What Does Homogeneity of the Population Refer To

question 42

Multiple Choice

What does homogeneity of the population refer to?

• A) how similar the people in a population are to one another
• B) how similar the respondents to the survey are to one another
• C) the extent to which the target audience is similar to the population
• D) the extent to which the sample represents the population

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Definitions:

Labor Efficiency Variance

The variance between the real hours spent working and the anticipated standard hours, times the standard rate of labor.

Actual Direct Labor Rate

The actual amount paid per hour to workers who are directly involved in the production of goods or services.

Labor Rate Variance

The difference between the actual cost of direct labor and the standard cost, indicating how well the company is managing its labor costs.

Direct Labor Standards

The expected amount of time and wage rate for workers to complete a unit of production.