How are the standard deviation and the variance similar? How are they different?
What will be an ideal response?
ANS:
The standard deviation and variance are similar in that both are measures of variability and both are computed using similar formulas. They are different because the standard deviation is stated in the original units from which it is derived while the variance is stated in squared units.
You might also like to view...
Discuss how to apply the AIDA model when framing your persuasive arguments
What will be an ideal response?
Leona purchased two bottles of wine from vineyards in Australia. When asked her opinion of the wine, she said the burgundy wine tasted like alcoholic grape juice, but the Chablis had a crisp taste that she really enjoyed
These statements were made during the ________ stage of Leona's purchase decision. A) evaluative criteria selection B) situational analysis C) problem recognition D) product choice E) postpurchase evaluation
Obeson is comparing tax rates in the United States with the tax rates in European countries that practice democratic socialism. Obeson finds that compared to the U.S., tax rates are:
A company uses a job order costing system and applies overhead on the basis of direct labor cost. A summary of the company's Work in Process Inventory account for December appears below.Work In Process
DateExplanationPRDebitCreditBalanceDec. 1????73,800Dec.Direct MaterialsG-20235,800?309,600Dec.Direct LaborG-20117,000?426,600Dec.Factory OverheadG-20187,200?613,800Dec.Job No. 5 completedG-8?90,900522,900Dec.Job No. 6 completedG-10?131,400391,500Dec.Job No. 7 completedG-12?73,800317,700Dec. 31Job No. 8 completedG-15?168,300149,400Fill in the blanks for the following:(1) The total cost of the direct materials, direct labor, and factory overhead for jobs still in progress is $________.(2) The company's overhead application rate is ________%(3) Job No. 6 had $26,550 of direct labor cost. Therefore, the job must have had $________ of direct materials cost.(4) Job No. 8 had $73,998 of direct materials cost. Therefore, the job must have had $________ of factory overhead cost. What will be an ideal response?