GPA and Class

question 3

Short Answer

GPA and Class
A college professor classifies his students according to their grade point average (GPA)and their class rank.GPA is on a 0.0-4.0 scale,and class rank is defined as the under class (freshmen and sophomores)and the upper class (juniors and seniors).One student is selected at random. ​ ​
-{GPA and Class Narrative} If the GPA of the student selected is over 3.0,what is the probability that the student is in the lower class?

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Definitions:

Cost Pool

A grouping of individual costs, typically by department or service center, from which cost allocations are made.

Departmental Overhead Rate

This is a method of allocating overhead costs to specific departments based on their respective proportions of an allocation base, such as machine hours or labor hours.

Activity-based Costing

A costing method that assigns overhead and indirect costs to specific activities, providing a more accurate product cost.

Overhead Cost Allocation

The process of distributing indirect costs to various cost objects like products, projects, or departments.