Do One of the Following, as Appropriate: (A) Find the Critical

question 74

Multiple Choice

Do one of the following, as appropriate: (a) Find the critical value $z_{?/2}$ , (b) find the critical value $t_{?/2}$ , (c) state that neither the normal nor the t distribution applies
- $91 \% ; \mathrm { n } = 45 ; \sigma$ is known; population appears to be very skewed.

• A) \(z _ { \alpha / 2 } = 1.70\)
• B) \(\mathrm { z } _ { \alpha / 2 } = 1.75\)
• C) \(\mathrm { t } _ { \alpha / 2 } = 1.645\)
• D) \(\mathrm { t } _ { \alpha / 2 } = 1.34\)

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Definitions:

Favorable Volume Variance

A metric that indicates a company has produced or sold more than initially anticipated, leading to increased profitability.

Contribution Margin

The difference between the sales revenue of a company and its variable costs.

Fixed Budget

A budget that remains unchanged and is based on a fixed level of activity, regardless of actual levels of output, sales, or revenue throughout the budget period.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels, allowing for more accurate financial planning and analysis.