A Binomial Distribution Has 100 Trials (N = 100)with a Probability

question 79

Multiple Choice

A binomial distribution has 100 trials (n = 100) with a probability of success of 0.25 (π = 0.25) . We would like to find the probability of 75 or more successes using the normal distribution to approximate the binomial. Applying the continuity correction factor,what value would be used to calculate a z-score?

• A)74.5
• B)75
• C)75.5
• D)25

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Definitions:

Variable Overhead Efficiency Variance

The difference between the actual variable overhead costs incurred and the expected costs based on efficient use of resources.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the standard cost of variable overhead allocated for the actual production level, often driven by efficiency in using the variable overhead resources.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard cost allocated, based on the actual amount of the allocation base used.

Supplies

Materials and items used in the daily operations of a business that do not directly become part of the final product.