Twenty Students Were Randomly Selected from a Business Statistics Course

question 240

Multiple Choice

Twenty students were randomly selected from a business statistics course and were asked to report the number of times that they had eaten a meal at the university's cafeteria within the past month. Below are the values reported:
7, 8, 10, 11, 8, 6, 10, 9, 9, 8, 13, 12, 8, 11, 11, 14, 8, 7, 10, 12

-What are the inner fences?

• A)17,20
• B)3.5,15.5
• C)12.5,15.5
• D)-1,20
• E)4.5,9.0

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Definitions:

Departmental Predetermined Overhead Rates

Overhead rates calculated for specific departments within a manufacturing facility, reflecting the unique costs associated with each department's operations.

Machine-Hours

A measure of the time machines are used in the production process, often used as a basis for allocating overhead costs in a manufacturing environment.

Markup

The amount added to the cost price of goods to cover overhead and profit, expressed as a percentage of the cost.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to individual units of production.