What Are Phi Coefficients

question 23

Multiple Choice

What are phi coefficients?

• A) the correlation between two dichotomous variables
• B) the correlation between two sets of test scores
• C) the correlation between a test item and the total test score
• D) they correlation of item difficulty and item bias

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Definitions:

Job-Order Costing

An accounting method that tracks costs individually for each job, suitable for companies that produce custom products or services.

Direct Labor Costs

Expenses that are directly tied to the production of goods or services, including wages of workers who can be directly traced to the product.

Indirect Labor Costs

Labor costs associated with employees who do not directly work on the production of products or services, such as maintenance staff or supervisors.

Manufacturing Overhead

All indirect costs associated with the production process, such as utilities, maintenance, and factory equipment depreciation.