Which of the Following Dimensions Are Aspects of Materials Cost

question 56

Multiple Choice

Which of the following dimensions are aspects of materials cost policy? 

• A) Control of the wage/salary bill. 
• B) The cost of energy consumption. 
• C) The cost of cancelled orders. 
• D) Reduction of transaction cost.

---

Definitions:

Empirical Rule

A statistical rule stating that for a normal distribution, about 68% of data falls within one standard deviation of the mean, 95% within two, and 99.7% within three standard deviations.

Mound-Shaped

Refers to a symmetrical, bell-shaped curve often associated with the normal distribution in statistics.

Standard Deviation

An indicator that quantifies the spread or variability among a collection of numbers, showing the extent to which these numbers differ from their average.

Mean

The mathematical mean of a collection of numbers, obtained by summing them up and then dividing by the total count of the numbers.