THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 92

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A paper company is interested in estimating the proportion of trees in a 600-acre forest with diameters exceeding 2 feet.The company selects 30 plots (100 feet by 100 feet)from the forest and utilizes the information from the 30 plots to help estimate the proportion for the whole forest.
-What statistical term describes the 30 plots?

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Definitions:

Direct Materials Cost Variance

The difference between the actual cost of direct materials used in production and the standard cost of those materials.

Direct Materials Quantity Variance

The difference between the actual amount of direct materials used in production and the expected amount, based on standards, multiplied by the standard cost per unit.

Variable Costs

Expenses that fluctuate in direct proportion to the amount of production or sales, including items like labor and materials.

Fixed Costs

Expenses that don't change in total over a period, regardless of the level of output or sales.