Which of the Following Would Imply That Data Observations Are

question 54

Multiple Choice

Which of the following would imply that data observations are closely clustered around the mean?

• A) Small range and small standard deviation
• B) Small range and large standard deviation
• C) Large range and small standard deviation
• D) Large range and large standard deviation
• E) Neither range nor standard deviation has anything to do with "clustering."

---

Definitions:

Indirect Materials

Materials used in the support of the production process that are not easily traced to specific products, essential for maintaining production equipment.

Favorable Variance

A financial term indicating that actual costs were less or actual revenues were more than what was budgeted or forecasted.

Variable Cost

Variable costs vary directly with the level of production output, including expenses like raw materials and direct labor.

Flexible Budget

A dynamic budget that recalibrates based on fluctuations in operational volume or activity.