For a Sample of 145 Observations from a Population of 744,the

question 4

Multiple Choice

For a sample of 145 observations from a population of 744,the sample mean is 22.6 and the sample standard deviation is 3.8.Create a 90% confidence interval for the population mean.

• A)22.6 ± 0.113
• B)22.6 ± 1.328
• C)22.6 ± 0.894
• D)22.6 ± 0.466

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Definitions:

Overhead Costs

Indirect expenses related to the operation of a business that are not directly assignable to a specific product or service.

Direct Labor Hours

The total hours worked by employees directly involved in the manufacturing of a product or the provision of a service.

Machine Hours

A measure of production time used in cost accounting to allocate costs to products or job orders, based on the hours a machine is operated.

Batch Size

The quantity of items or units produced in a single manufacturing run or production cycle, which can significantly impact production efficiency and cost.