Statistically, Significant Results Mean That the Results Are

question 49

Multiple Choice

Statistically, significant results mean that the results are:

• A)very important.
• B)meaningless.
• C)likely to be due to chance differences between the groups.
• D)likely to be due to true differences between the groups.

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Definitions:

Denominator Level

The activity level chosen to compute the predetermined overhead rate, reflecting expected or actual activity.

Machine-Hours

A measurement of the amount of time machines are run during production, often used as a basis for allocating manufacturing overhead.

Fixed Overhead Budget

A fixed overhead budget outlines the expected costs of fixed overheads, such as salaries and rent, that are not influenced by changes in production volume.

Volume Variance

The difference between the planned volume of output and the actual volume of output, which affects costs.