According to the Chebyshev Rule, at Least What Percentage of the Observations

question 69

Multiple Choice

According to the Chebyshev rule, at least what percentage of the observations in any data set are
Contained within a distance of 2 standard deviations around the mean?

• A) 67%
• B) 75%
• C) 88.89%
• D) 95%

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Definitions:

Variable Overhead

Costs that fluctuate with the level of output or production activity, such as utilities for a manufacturing line.

Budgeted Variable Overhead

Estimated costs related to variable overhead that are planned or expected for a specific period in the budgeting process.

Volume Variance

A measure used in costing to indicate the difference between expected production volumes and the actual volumes produced, affecting costs.

Fixed Factory Overhead

Indirect, consistent costs associated with operating a manufacturing facility, such as salaries of supervisors and rent.