The Number of Phone Calls Arriving at a Switchboard Each

question 14

Multiple Choice

The number of phone calls arriving at a switchboard each hour has been recorded, and the following frequency distribution has been developed.
$$\begin{array} { l c } \text { Class Interval } & \text { Frequency } \\20 \text {-under } 40 & 30 \\40 \text {-under } 60 & 45 \\60 \text {-under } 80 & 80 \\80 \text {-under } 100 & 45\end{array}$$
What is the midpoint of the last class?

• A)80
• B)100
• C)95
• D)90
• E)85

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Definitions:

Weighted Average

A calculation that takes into account the varying degrees of importance of the numbers in a data set, often used in cost accounting.

Ending Inventory

The aggregate worth of items on offer at the termination of an accounting cycle.

Beginning Inventory

The value of inventory held by a business at the start of an accounting period.

Inventory Costing Method

Techniques used to assign costs to inventory and cost of goods sold, such as FIFO (First-In, First-Out) or LIFO (Last-In, First-Out).