Which Variable Would It Be Appropriate to Calculate a Numerical

question 7

Multiple Choice

Which variable would it be appropriate to calculate a numerical measure of central tendency (e.g., mean, median) ?

• A)Age
• B)Race
• C)Gender
• D)Political affiliation
• E)Last name

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Definitions:

Static Budget

A financial plan that does not change or adjust with variations in business activity levels.

Labor Rate Variance

The difference between the actual cost of direct labor and its expected (or standard) cost during a given period.

Standard Rate

A predetermined cost per unit of measure or rate that is used in budgeting and costing calculations.

Actual Rate

The real, observed rate at which something occurs, often used in financial contexts to specify interest rates or exchange rates.