Which Is NOT True of an Analysis of Variance

question 1

Multiple Choice

Which is NOT true of an analysis of variance?

• A)The population variances are all assumed to be equal.
• B)All samples must be selected randomly.
• C)All data must be ordinal level data.
• D )All of the above are untrue.

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Definitions:

Direct Materials

These are raw materials that can be directly identified with the finished product in terms of cost and physical involvement.

Factory Overhead

All costs related to production that are not direct materials or direct labor costs.

Conversion Cost

Conversion cost is the combination of labor and manufacturing overhead costs incurred to convert raw materials into finished goods.

Equivalent Unit

A concept used in process costing that converts partially completed units into a number of fully completed units.