For the Following Questions, Consider the Dataset Below Collected from a Sample

question 45

Multiple Choice

For the following questions, consider the dataset below collected from a sample of trainees:
$\begin{array}{ccc} & \text { Training } & \text { Test score } \\\hline 1 & \text { A } & 12 \\2 & \text { A } & 9 \\3 & \text { B } & 6 \\4 & \text { B } & 10 \\5 & \text { C } & 30 \\\hline\end{array}$ Test scores represent the number of test questions trainees answered correctly on the post-training survey.
-What is the relative frequency of Training C?

• A) 0.1
• B) 0.2
• C) 1
• D) 2

Analyze the impact of activity levels on budget planning and performance evaluations.

Understand the difference between favorable and unfavorable variances and their significance.

Learn about the various types of costs (fixed, variable) in budgeting and performance reports.

Apply cost estimates to calculate budget variances.

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Definitions:

Saving Rate

The proportion of disposable income that is not spent on consumption but reserved for future use or investment.

Living Standards

refer to the quality and quantity of goods and services available to individuals or societies, reflecting their economic prosperity and quality of life.

Financial System

The group of institutions in the economy that help to match one person’s saving with another person’s investment

Main Function

The primary or most important role or purpose that an entity or system is designed or intended to fulfill.