According to a Department of Labor Report,the City of Detroit

question 23

Multiple Choice

According to a Department of Labor report,the city of Detroit had a 20% unemployment rate in May of 2011.Eight working-age residents were chosen at random.What was the expected number of unemployed residents,when eight working-age residents were randomly selected?

• A) 1.0
• B) 1.6
• C) 2.0
• D) 6.4

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Definitions:

Direct Materials

Raw materials that are directly traceable to the production of specific goods or services and are an integral part of the finished product.

Variable Factory Overhead

Variable factory overhead consists of production costs that vary with the level of output, such as utilities and indirect materials.

Fixed Costs

Costs that tend to remain the same in amount, regardless of variations in the level of activity.

Differential Revenue

The additional revenue generated from choosing one alternative over another in decision-making processes.