When a Data Set Is Summarized by Counting the Number

question 55

Short Answer

When a data set is summarized by counting the number of times each value for a variable occurs in the sample,this is known as a ____________________.

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Definitions:

Normal Capacity

The production level expected to be achieved under normal conditions by a company, taking into account seasonal and cyclical demands.

Total Factory Overhead Cost Variance

The difference between the actual factory overhead incurred and the expected (or standard) overhead costs.

Actual Hours

The actual number of hours worked or spent on a specific task or project, compared to planned or estimated hours.

Standard Hours

A predetermined or established amount of time within which a task or job is expected to be completed.