Nia Has Collected Her Dissertation Data That Tests a Prediction

question 45

Multiple Choice

Nia has collected her dissertation data that tests a prediction model of student retention of international college students. She finds that in students from China, the predictor variables have much less variance than the same variables in students from European countries. Given this information, what can you conclude regarding the data set?

• A) The standard deviation is likely smaller the Chinese students.
• B) The mean is likely higher for the Chinese students.
• C) The variance is likely larger for the European students.
• D) The mean is likely higher for the European students.

Understand the implications of LIFO and FIFO cost flow assumptions under GAAP and IFRS.

Determine the appropriate inclusion or exclusion of items in physical inventory counts.

Explain the concepts of lower-of-cost-or-market and net realizable value and their application in inventory valuation.

Assess the requirements for consistent application of inventory cost flow assumptions.