The Following Frequency Distribution Shows the Distribution of Delivery Times

question 59

Short Answer

The following frequency distribution shows the distribution of delivery times (in days) for swimstuff.com customer orders during the last month. What is the relative frequency for orders delivered in less than one day or 24 hours?

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Definitions:

Markup

The disparity between a product or service's cost and its retail price, represented as a percentage increase from the cost.

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead costs to products, calculated before the period begins based on the relationship between estimated overhead costs and an allocation base.

Variable Manufacturing Overhead

Costs that vary with production volume, such as utilities and indirect materials.

Machine-Hours

A measure of the time that a machine is operated, used as a way to allocate machine-related costs to products.