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A Sample of 23 European Countries Found That the Variance

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A sample of 23 European countries found that the variance on life expectancy was 7.3 years.What is the 95% confidence interval for the variance of life expectancy in Europe?

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Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (or standard) costs based on the predetermined overhead rate.

Month

A unit of time, roughly based on the period of the lunar cycle, used in calendars to divide the year.

Fixed Manufacturing Overhead

The consistent, unchanged costs associated with manufacturing a product or service regardless of the output level.

Work in Process

Refers to materials that are in the process of being transformed into finished goods in a manufacturing environment.

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