Consider a Data Sample Consisting of 12 Values with a Mean

question 9

Multiple Choice

Consider a data sample consisting of 12 values with a mean of 22 and standard deviation of 1.5. What is the approximate 95% confidence interval for the standard deviation?

• A) 0.75 < σ < 4.32
• B) 0.87 < σ < 2.08
• C) 1.06 < σ < 2.55
• D) 1.03 < σ < 8.26

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Definitions:

Variable Costs

Costs that vary directly with the level of production or service delivery, such as materials and labor.

Fixed Costs

Expenses that do not change with the level of production or sales over a certain period, such as rent and salaries.

Activity-Based Costing

A method of accounting that identifies the activities a firm performs and assigns costs to those activities based on their use of resources, aiming to better understand business processes and costs.

Two-Stage Allocation Process

A method used in cost accounting to assign indirect costs to products or services, involving an initial allocation to departments and a subsequent allocation to specific products or services.