The Local Amusement Park Was Interested in the Average Wait

question 2

Multiple Choice

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m. ) .They selected 13 patrons and had them get in line between 2 and 3 p.m.Each was given a stopwatch to record the time they spent in line.The times recorded were as follows (in minutes) .
118,124,108,116,99,120,148,118,119,121,45,130,118
What is the 65^th percentile?

• A)99
• B)120
• C)130
• D)112
• E)45

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Definitions:

Traditional Costing

An accounting method that allocates overhead based on a single, volume-based cost driver, often used in manufacturing industries.

Manufacturing Overhead

All indirect costs associated with the production process, such as utilities, depreciation of manufacturing equipment, and factory personnel salaries.

Total Product Cost

The sum of all costs directly or indirectly associated with producing a product, including materials, labor, and overhead.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific products or services based on the activities and resources that go into their production.