Consider the Following to Answer the Question(s) Below

question 20

Multiple Choice

Consider the following to answer the question(s) below:
To determine whether the tip left at the end of a meal is related to the size of the total bill at their restaurant, Chez Michelle, data were gathered for 10 customers. The data and summary statistics are shown below.

-In discussing how its customers use online services, a bank manager noted "there seems to be a strong correlation between the use of the online bill paying feature and gender". Which of the following is true regarding this statement?

• A) The correlation between the use of online bill paying feature and gender is negative.
• B) The correlation between the use of online bill paying feature and gender is positive.
• C) There may be an association between the use of online bill paying feature and gender, but these variables are both categorical so they cannot be correlated.
• D) More males will bank online compared with females.
• E) More females will bank online compared with males.

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Definitions:

Direct Labor Rate Variances

This term refers to the difference between the actual cost of direct labor and the expected (or standard) cost, used in manufacturing and budgeting.

Efficiency Variances

The differences between actual performance in terms of time or cost and the standard expected performance.

Cost Information

Refers to data related to the amount of money required to produce goods or services, including production, maintenance, and other associated expenses.

Favorable

A term that indicates a positive variance or outcome, especially in the context of budgeting and financial analysis.