The Lengths of the Reigns of 50 British Monarchs (In

question 19

Multiple Choice

The lengths of the reigns of 50 British monarchs (in years) are summarized with the following five-number summary: xmin = 0, Q1 = 6, = 15.5, Q3 = 24, xmax = 63, = 18.92
If the maximum of 63 years is accidentally recorded as 630 years, how will this affect the mean?

• A) The mean will increase.
• B) The mean will decrease.
• C) The mean will be unchanged.
• D) It is impossible to determine without having the complete data set.

Understand the concept of absorption costing and its calculation.

Calculate and interpret the unit product cost under both variable and absorption costing methods.

Calculate and interpret net operating income under variable and absorption costing methods.

Understand the impact of costing methods on net operating income.

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