In a Survey of 472 Personnel Directors,63% Thought That They

question 82

Multiple Choice

In a survey of 472 personnel directors,63% thought that they would be hiring new personnel over the next three months.Which of the following represents a 98% confidence interval for the proportion of all personnel directors planning to hire personnel over the next three months?

• A)0.63 ± 0.057
• B)0.63 ± 0.047
• C)0.63 ± 0.042
• D)0.63 ± 0.052

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Definitions:

Standard Cost System

An accounting method that assigns predetermined costs to products and services, which are then compared to actual costs to measure performance.

Labor Rate Variance

The difference between the actual cost of labor and the budgeted or standard cost of labor, used as a measure of performance in cost control.

Average Cost

A financial metric calculated by dividing the total cost of goods available for sale by the total number of items available for sale, used to determine the profitability of sales.

Fixed Overhead Volume Variance

The difference between the budgeted and actual fixed overhead costs, attributed to variations in the number of units produced.