It Was Believed That the Probability of Being Hit by Lightning

question 61

Multiple Choice

It was believed that the probability of being hit by lightning is the same during the course of a
Thunderstorm.Which of the following distributions would you use to determine the probability
Of being hit by a lightning during the first half of a thunderstorm?

• A) Normal distribution.
• B) Poisson distribution.
• C) Uniform distribution.
• D) Exponential distribution.

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Definitions:

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead to individual products or job orders, based on a predetermined formula.

Machine-Hours

A measure of the time a machine is run during production, used to allocate manufacturing overhead costs based on machine usage.

Markup

A pricing strategy where a fixed amount or percentage is added to the cost of a product to determine its selling price.

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead costs to produced goods, based on estimated costs and activity levels.