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Grundhoefer Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During April, the kennel budgeted for 2,000 tenant-days, but its actual level of activity was 1,990 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for April:
-The activity variance for administrative expenses in April would be closest to:
Treaty
A formal agreement between two or more sovereign states, usually regarding peace, alliances, trade, or other international relations.
Standard Error
A measure of the variability or precision of a sample statistic as an estimate of a population parameter.
Credit Sales
Transactions where goods or services are provided to a customer with an agreement to pay later.
Degrees of Freedom
Degrees of freedom typically represent the number of values in a calculation that are free to vary, often used in the context of statistical tests to specify the distribution of test statistics.
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