Apportion the Overheads from the Two Service Dept to the Others

question 15

Essay

Apportion the overheads from the two service dept to the others using the step method and the appropriate bases. Do the canteen first.

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Definitions:

Central Limit Theorem

A statistical theory that states that, given a sufficiently large sample size from a population with a finite level of variance, the mean of all samples from the same population will be approximately equal to the mean of the population, and the samples will be distributed approximately normally.

Normal Probability Distribution

A type of continuous probability distribution that is symmetrical around its mean, representing how random variables are distributed in many natural phenomena.

Sampling Distribution

Describes the distribution of a statistic (like the mean or variance) based on random samples from a larger population.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values in the dataset deviate from the mean.