Use the Range Rule of Thumb to Estimate the Standard

question 120

Multiple Choice

Use the range rule of thumb to estimate the standard deviation to the nearest tenth.
-2, 6, 15, 9, 11, 22, 1, 4, 8, 19

• A)6.3
• B)5.3
• C)6.8
• D)2

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Definitions:

Unit Product Cost

The cost assigned to a single unit of product, comprising both variable and fixed manufacturing costs.

Overhead Applied

The amount of manufacturing overhead expenses assigned to a particular job or activity, based on a predetermined rate.

Job P978

A specific job, project, or batch in a costing system assigned with a unique identifier for tracking costs.

Unit Product Costs

The total cost associated with producing one unit of product, including direct materials, direct labor, and allocated overhead costs.