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The mean life of a particular brand of light bulb is 1000 hours and the standard deviation is 50 hours.Tests show that the life of the bulb is approximately normally distributed.It can be concluded that approximately 68% of the bulbs will last between ___.
Actual Output
The real, quantifiable production achieved within a given time period, often compared against planned or potential output.
Labor Efficiency Variance
The difference between the actual labor hours worked and the expected labor hours, multiplied by the standard labor rate, indicating efficiency in labor use.
Labor Rate Variance
A metric that calculates the difference between the actual and expected cost of labor.
Labor Efficiency Variance
The difference between the actual labor hours used and the standard labor hours expected for the level of production achieved, indicating labor productivity.
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