The Speed Vehicles Travelled on a Local Road Was Recorded

question 96

Multiple Choice

The speed vehicles travelled on a local road was recorded for one month.The speeds ranged from 52 km/h to 67 km/h with a mean speed of 56 km/h and a standard deviation of 7 km/h.The quartiles and median speeds were 55 km/h,64 km/h,and 53 km/h.Suppose during the month,one driver was clocked at 25 km/h. Which of the summary statistics might not change if that data value was added to the distribution?

• A)Q1,Q3
• B)Median,range
• C)Median,IQR
• D)Mean,IQR
• E)Range,SD

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Definitions:

Activity-Based Costing

Activity-based costing is a method of assigning indirect costs to products and services based on the activities they require, aiming for more accurate cost management.

Volume-Based Allocation

A method of distributing resources, costs, or revenues proportionally based on the volume of goods produced or services rendered.

Product Costing

The process of determining the total cost involved in producing a product, including raw material, labor, and overhead costs.

Cost Control

Cost control involves the practice of identifying and reducing business expenses to increase profits, maintaining quality and efficiency in the process.