Find the Approximate Standard Deviation of the Following Set of Scores

question 18

Multiple Choice

Find the approximate standard deviation of the following set of scores: 3,6,2,7,8 .

• A)2.24
• B)2.59
• C)3.32
• D)6.70

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Definitions:

Absorption Costs

Absorption Costs involve all the costs associated with manufacturing a product, including direct labor, materials, and overhead, allocated to the product.

Mark-Up Percentage

Mark-up percentage is the ratio of profit added to the cost price to determine the selling price.

Cost-Plus Pricing

A pricing method where the seller establishes the sale price by adding a defined markup to the cost per unit of the product.

Total Variable Cost

Total Variable Cost is the sum of all costs that vary directly with the level of production or sales volume; they increase as production increases and decrease as production decreases.