If the Mean, Median and Mode Are All Equal for a Continuous

question 11

True/False

If the mean, median and mode are all equal for a continuous random variable, then the random variable is normally distributed.

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Definitions:

Machine-Hours

A measure used in accounting to allocate manufacturing overhead costs to products based on the number of hours machines are used in the production process.

Markup

The amount added to the cost price of goods to cover overhead and profit, determining the selling price.

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead costs to products or job orders, based on a predetermined formula before the accounting period begins.

Machine-Hours

A measurement of production time, representing hours a machine is operated within a given period.