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Bernes Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During October, the kennel budgeted for 2,700 tenant-days, but its actual level of activity was 2,720 tenant-days. The kennel has provided the following data concerning the formulas to be used in its budgeting:
-The activity variance for net operating income in October would be closest to:
Two-tailed Test
A statistical test in which the critical area of a distribution is two-sided and tests whether a sample is either greater than or less than a certain range of values.
Chi-squared Goodness-of-fit
A statistical test used to determine if a sample data fits a distribution from a certain population, based on the differences between observed and expected frequencies.
Two-tail Test
A statistical test that considers the possibility of observing extreme outcomes in both tails of the distribution.
Nominal Data
Data categorized into discrete groups or categories that cannot be ranked or ordered.
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