THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 108

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Consider the following scores on a 20 point aptitude test for two samples of eight students each:
Sample 1: 18,19,17,15,14,20,14,and 16
Sample 2: 14,15,13,11,10,16,10,and 12
-Calculate the mean score in sample 2.

---

Definitions:

Estimate

An approximation or educated guess regarding the value, quantity, or extent of something, often used for budgeting and planning processes.

High-Low Method

A way to estimate the fixed and variable components of a cost by analyzing the highest and lowest activity levels and their associated costs.

Fixed Cost

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and loan payments.

Machine Hours

A measure of the amount of time a machine is operated, used in cost accounting to allocate costs to products.