For a Simple Random Sample, Each Case and Each Combination

question 24

Multiple Choice

For a simple random sample, each case and each combination of cases in the population must________.

• A) be representative.
• B) be included in the sample.
• C) be contacted by the researcher.
• D) have an equal probability of being chosen for the sample.

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Definitions:

Materials Price Variance

The difference between the actual cost of materials used in production and the expected (or budgeted) cost.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standard amount expected to be used, multiplied by the standard cost per unit.

Standard Cost Variances

The differences between the actual costs incurred and the standard costs set for producing a good or service.

Cost Of Goods Sold

The total cost directly associated with producing goods that have been sold, including materials, labor, and manufacturing overhead.