The Standard Deviation

question 62

Multiple Choice

The standard deviation

• A) indicates the average difference between each score in a group and the mean for that group of scores.
• B) reveals the degree of skew for a group of scores.
• C) is sensitive to scores at the extremes of a distribution of scores.
• D) is used to determine whether a data set is positively or negatively skewed.

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Definitions:

Ending Inventory Costs

The total value of all the goods that a company has in stock at the end of an accounting period, before any adjustments or cost of goods sold calculations.

LIFO Periodic Inventory Method

An inventory valuation method where the last items purchased are the first items considered sold during a given period, calculated periodically.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated before any adjustments for cost of sales.

Perpetual Inventory System

A bookkeeping approach that instantly logs the sale or acquisition of stock using computerized point-of-sale systems and enterprise asset management programs.