Usually There Is No Production-Volume Variance When Normal Capacity Utilization

question 32

True/False

Usually there is no production-volume variance when normal capacity utilization is used as the denominator level.

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Definitions:

Random Sample

A selection taken from a group in which every individual has the same likelihood of being chosen.

True Proportion

The actual percentage of a population that exhibits a particular characteristic.

Unbiased

A characteristic of an estimator that means the expected value of the estimator equals the true parameter value of the population.

Sampling Distribution

The probability distribution of a given random-sample-based statistic that provides insight into the shape, bias, and variability of the statistic.