A Responsibility Center in Which the Manager Is Held Accountable

question 83

Multiple Choice

A responsibility center in which the manager is held accountable for the profitable use of assets and capital is commonly known as a (n) :

• A) cost center.
• B) revenue center.
• C) profit center.
• D) investment center.
• E) contribution center.

Understand the concept of standard deviation and its significance as a measure of dispersion that takes into account all data points.

Know that the standard deviation shares the same units as the original data set, reinforcing its direct relevance and applicability.

Comprehend the Empirical Rule and its implications for data within one, two, and three standard deviations from the mean in a normal distribution.

Differentiate between various measures of variability and their susceptibility to extreme values.

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Definitions:

Gilded Age

A period in the late 19th century marked by rapid economic growth, technological advancement, and ostentatious wealth amidst widespread social issues in the United States.

Farmers

Individuals engaged in agriculture, raising living organisms for food or raw materials.

Railroads

A network of tracks on which trains run, serving as a crucial mode of transportation for goods and passengers over land, and instrumental in the industrial development and expansion of territories.

Labor Movement

The collective organization of working people developed to represent and campaign for better working conditions and treatment from their employers and political authorities.