A Large Number of Applicants for Admission to Graduate Study

question 70

Multiple Choice

A large number of applicants for admission to graduate study in business are given an aptitude test.Scores are normally distributed with a mean of 460 and standard deviation of 80.The top 2.5 percent of the applicants would have a score of at least (choose the nearest integer)

• A)606
• B)617
• C)600
• D)646

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Definitions:

Job Order Cost System

An accounting method used to assign product costs based on specific job orders, tracking expenses for materials, labor, and overhead per job.

Process Cost System

An accounting methodology used to allocate costs to products or services based on the processes they go through.

Finished Goods Inventory

The total value of manufactured products that are completed and ready for sale.

Chief Financial Officer's Salary

Compensation paid to the Chief Financial Officer (CFO) of a company, responsible for managing the company's financial operations and strategy.