Descriptive Statistics Are Used to ______________

question 40

Multiple Choice

Descriptive statistics are used to ______________.

• A) summarize data from a sample
• B) decide if two sample groups are different from each other
• C) decide if two variables are related to each other
• D) determine if an experimental design has high reliability

---

Definitions:

Materials Costs

The cost of raw materials and supplies used in the production of goods or in the provision of services.

Goods Transferred

Goods transferred refers to the movement of inventory from one location to another, or the process of turning over goods from a seller to a buyer.

Conversion Costs

The combined cost of direct labor and manufacturing overhead, reflecting the expenses to convert raw materials into finished products.

Equivalent Units

A concept used in process costing that converts partially completed goods into a number of fully completed units for accounting purposes.