Bumgardner Inc

question 211

Multiple Choice

Bumgardner Inc. has provided the following data concerning one of the products in its standard cost system.
The company has reported the following actual results for the product for April:

-The materials price variance for April is:

• A) $1,860 U
• B) $1,860 F
• C) $1,560 U
• D) $1,560 F

---

Definitions:

ρ Values

In statistics, ρ often denotes the population correlation coefficient or the significance level of a hypothesis test, context depending.

Spearman Rank-Correlation

An assessment of rank correlation, not based on parameters, which evaluates the extent to which two variables' relationship can be represented through a monotonic function.

Pearson Correlation

is a measure of the linear correlation between two variables, quantifying the strength and direction of their relationship.

Two-tail Tests

Hypothesis tests that consider extreme values in both tails of the distribution to evaluate the likelihood of observing a relationship by chance in either direction.