Post-Hoc Test (E

question 66

Multiple Choice

Post-hoc test (e.g. ,LSD,Duncan's multiple comparison/range test) are used for determining the

• A)significance of association among groups of related variables.
• B)differences between means when ANOVA has produced a significant F-value.
• C)differences between means when ANOVA has produced an insignificant F-value.
• D)casual relationship between two nominal variables.
• E)None of the above;none of these are statistical tests.

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Definitions:

Process Costing System

An accounting method used for homogeneous products, where costs are assigned to processes or departments and averaged over the units produced.

Weighted Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the weighted average cost of all goods available for sale.

Finished Goods

Items that have been fully produced but are still awaiting sale or distribution to buyers.

Weighted Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the weighted average cost of all units available for sale during the period.