Data Were Obtained for the Weight in Grams, of a Sample

question 71

Short Answer

Data were obtained for the weight in grams, of a sample of 10 packets of sweetener, as found in cafés. $$\begin{array} { | l | l | l | l | l | l | l | l | l | l | } \hline 4.5 & 5 & 5.9 & 5.4 & 5.5 & 4.7 & 4.9 & 4.7 & 4.7 & 4.6 \\\hline\end{array}$$ Find the standard deviation.

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Definitions:

Quantity Variance

The difference between expected and actual quantities used in production, affecting cost and efficiency.

Fixed Factory Overhead Volume Variance

The difference between the budgeted and actual fixed overhead incurred due to variance in production volume.

Standard Fixed Overhead Cost

The predetermined amount of fixed costs that are expected to be incurred to support operations, typically fixed for a specific period.

Direct Materials Quantity Variance

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