If You Were to Compare the Maps of Two Variables

question 2

Multiple Choice

If you were to compare the maps of two variables which have a correlation of .712 you would find

• A)the maps to be quite similar.
• B)the maps to be exactly alike.
• C)the maps to be opposites.
• D)none of the above - correlations tell us nothing about how two maps will compare.

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Definitions:

Predetermined Overhead Rate

A rate calculated before a period begins, used to allocate estimated overhead costs to products or services based on a chosen activity base.

Manufacturing Overhead

The indirect costs associated with manufacturing a product, which include expenses such as equipment depreciation, utilities, and salaries for maintenance staff.

Direct Labor-Hours

A measure of the total hours worked directly on the manufacturing of goods.

Machine-Hours

A unit of measure indicating the operational time of machinery, often used in manufacturing to allocate costs based on machine usage.