Examlex
A tennis player makes a successful first serve 65% of the time.Assume that each serve is independent of the others.If she serves 5 times,what is the probability that she makes all of her first serves?
Variance Standard
A method used in budgeting and accounting to analyze the difference between planned financial outcomes and actual results.
Quantity Standard
A predetermined benchmark of the amount of input that should be used in the production of goods or services.
Quantity Variance
The difference between the actual quantity of material used in production and the standard quantity expected to be used.
Direct Materials
Raw materials that can be directly associated with the production of a product and are an integral part of the finished product.
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