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Assume that human body temperatures are normally distributed with a mean of 36.4 C and a standard deviation of 0.7 C. If we define a fever to be a body temperature above 38.0 C.
(i) 01.1% of normal and healthy persons would be considered to have a fever.
(ii. This suggests that a cut-off of 38.0 C is appropriate.
Sales Variance
The difference between actual sales and budgeted or forecasted sales.
Sales Price Variance
The difference between the actual sales price of a product and its expected (or standard) sales price.
Sales Volume Variance
The difference between the actual quantity sold and the budgeted quantity sold, multiplied by the standard selling price per unit.
Purchasing Department
The division within a company responsible for acquiring goods and services necessary for the business operations.
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