"The Average Was 75,"explains Dr

question 46

Multiple Choice

"The average was 75,"explains Dr. Morales, handing back the semester's first midterm. The lowest score was 32, and there were several in the 40s. But I had some 95s, 96s, and even a 98 - so it's not like it's impossible to do well." Handing back the second midterm, Dr, Morales notes, "The average was 75 again. There were a few in the low 60s, but I got a bunch in the high 80s and into the 90s. It's looking better!" Which of the following statements is TRUE

• A)The means were the same on the two tests, but the standard deviation was lower on the first than on the second.
• B)The means were the same on the two tests, but the standard deviation was higher on the first than on the second.
• C)The means were the same on the two tests, but the range was lower on the first test.
• D)The means and standard deviations were the same on the two tests.

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Definitions:

Balance Sheet

A financial statement that presents the financial position of a company at a specific point in time, showing assets, liabilities, and shareholders' equity.

Inventory Costing Method

A method used to assign costs to inventory items, such as FIFO (First-In, First-Out), LIFO (Last-In, First-Out), or weighted average cost.

LIFO

Last In, First Out, an inventory valuation method where the most recently produced or acquired items are sold first, affecting the cost of goods sold and inventory value.

FIFO

"First In, First Out," a method of inventory valuation where the earliest acquired goods are sold first.