The Collection of Information on Costs and Their Drivers, Gathered

question 8

Multiple Choice

The collection of information on costs and their drivers, gathered through observations and interviews, from departments within an organization is known as the

• A)account analysis method.
• B)conference method.
• C)industrial-engineering method.
• D)quantitative analysis method.
• E)departmental analysis method.

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Definitions:

ANOVA Table

A statistical table used in analysis of variance that summarizes the sources of variability in the data, helping to determine whether differences between groups are significant.

F-ratio

A statistic used to compare the variances among group means in an analysis of variance (ANOVA) test, determining if any significant differences exist.

P-value

A statistical measure that indicates the probability of an observed data occurring under a particular assumption or model usually associated with hypothesis testing.

ANOVA Table

A structured representation of the analysis of variance, showing statistical tests to determine if there are differences among group means.