A Psychology Professor Wanted to Describe His/her Class in Terms

question 35

Multiple Choice

A psychology professor wanted to describe his/her class in terms of the personality characteristic of introversion/extroversion.The population variance was estimated to be 2.56.What does this mean?

• A)When the professor uses the population mean to predict individuals' scores,he/she should expect to be in error by about 2.56.
• B)When the professor uses the population mean to predict individuals' scores,he/she should expect to be more accurate by about 2.56.
• C)It is impossible to tell because the mean is not known.
• D)The sample mean differs from the population mean by about 2.56.

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Definitions:

Direct Labor Costs

The wages paid to workers who are directly involved in the production of goods or the provision of services, excluding the cost of materials and overhead.

Materials Price Variance

The difference between the actual cost of materials used in production and the standard cost expected for those materials.

Raw Materials

These are the base ingredients or components that companies use in the production of goods.

Materials Price Variance

The difference between the actual cost of materials used in production and the standard cost of those materials.