Participants in a 2 Day Biking Event, Cross the Finish

question 44

Multiple Choice

Participants in a 2 day biking event, cross the finish line at a rate of 10 bike riders per fifteen minute interval.The probability that less than 10 minutes will elapse between car arrivals is _____________.

• A).0001
• B).9987
• C).0013
• D).6667
• E).1667

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Definitions:

Direct Labor Cost Variance

The difference between the budgeted cost of direct labor and the actual cost incurred.

Cost Variance

The difference between the expected (budgeted) cost and the actual cost incurred.

Actual Costs

The real, observed expenditures incurred as opposed to estimated or standard costs.

Standard Costs

Predetermined or estimated costs of manufacturing, selling, and administrative activities, used for budgeting and assessing performance.