Use the Following Selected Information from Farris, LLC to Determine

question 138

Multiple Choice

Use the following selected information from Farris, LLC to determine the Year 2 and Year 1 common size percents for operating expenses using Year 1 net sales as the base.

• A) 36.4% for Year 2 and 41.1% for Year 1.
• B) 55.0% for Year 2 and 56.0% for Year 1.
• C) 119.4% for Year 2 and 100.0% for Year 1.
• D) 103.8% for Year 2 and 100.0% for Year 1.
• E) 20.0% for Year 2 and 23.0% for Year 1.

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Definitions:

Random Variable

A variable whose possible values are numerical outcomes of a random phenomenon.

Standard Deviation

An indicator that quantifies the extent to which values in a collection differ from the average, showcasing the degree of spread or divergence among the data points.

Mean

The arithmetic average of a set of values, found by adding them together and dividing by the number of terms.

Normal Distribution

Data points nearest to the mean occur more frequently in this symmetric probability distribution, with diminishing occurrences of data points as they deviate from the mean.