Examlex
In a process costing operation,the direct labor of a production department includes:
Mean
The arithmetic average of a set of numbers, calculated by summing them and dividing by the count of numbers.
Sample Range
The difference between the largest and smallest values in a sample, used as a measure of variability.
Outlier
A data point that differs significantly from other observations and can potentially skew results.
Measures Of Variability
Statistical values that describe the dispersion or spread in a dataset, such as range, variance, and standard deviation.
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