Given the Following Data Set, Find the Approximate Value That

question 32

Short Answer

Given the following data set, find the approximate value that corresponds to the 75th percentile.
10, 44, 15, 23, 14, 18, 72, 56

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Definitions:

Plantwide Predetermined Rate

A single overhead rate calculated by dividing total estimated manufacturing overhead costs by the total estimated amount of the allocation base, applied throughout an entire plant or facility.

Machine-Hours

The total number of hours that machinery is in operation, used as a basis for allocating manufacturing overhead costs in a production environment.

Predetermined Overhead Rate

An estimated rate used to assign manufacturing overhead costs to individual units of production, based on a chosen activity base.

Direct Labor-Hours

A measure of the work input in terms of hours that can be directly attributed to the production process.