The ________ Index Has Been Used in Economics to Measure

question 41

Short Answer

The ________ index has been used in economics to measure the diversity of a population.The same concept can be used to determine the purity of a specific class as a result of a decision to branch along a particular attribute or variable.

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Definitions:

Pounds

A unit of weight commonly used in the British imperial and United States customary systems.

Materials Quantity Variance

Materials quantity variance is the difference between the actual quantity of materials used in production and the expected amount, multiplied by the standard cost of those materials, indicating efficiency in usage.

Price Standard

A predetermined cost that serves as a benchmark for evaluating the actual cost of goods sold or production costs.

Pounds

A unit of mass or weight commonly used in the British imperial and United States customary systems.