The ability of an interval estimate to contain the value of the population parameter is described by the
a. confidence level
b. degrees of freedom
c. precise value of the population mean ?
d. degrees of freedom minus 1
A
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Similar to import tariffs, quotas on imports result in
a. higher levels of consumer surplus. b. lower levels of producer surplus. c. higher prices for domestic consumers. d. higher prices for foreign consumers.
Which of the following is a use of secondary data?
A) to determine the population and growth rate in almost any geographical area B) to evaluate market performance C) to help make public policy decisions D) to predict broad changes in a culture's "way of life" E) all of the above
Ahlheim Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: FormingAssemblyMachine-hours 16,000 15,000Direct labor-hours 2,000 6,000Total fixed manufacturing overhead cost$102,400$55,200Variable manufacturing overhead per machine-hour$2.30 Variable manufacturing overhead per direct labor-hour $4.50During the current month the company started and finished Job T924. The following data were recorded for
this job:Job T924:FormingAssemblyMachine-hours 70 20Direct labor-hours 30 40Direct materials$870$385Direct labor cost$630$840The estimated total manufacturing overhead for the Assembly Department is closest to: A. $27,000 B. $47,700 C. $82,200 D. $55,200
Aurora Corporation produces outdoor security lighting products. All products go through three processes before completion. Use the expected overhead costs and related data shown below to compute departmental overhead rates based on machine hours in Department A1A; based on direct labor hours in Department B2B; and machine hours in Department C3C. Department A1ADepartment B2BDepartment C3CDirect labor hours 90,000DLH 80,000DLH 72,000DLHMachine hours 54,000MH 32,000MH 54,000MHManufacturing overhead costs$540,000 $160,000 $216,000
A. Dept. A: $10 per MH; Dept B: $5 per DLH; Dept C: $4 per MH. B. Dept. A: $10 per MH; Dept B: $2 per DLH; Dept C: $3 per MH. C. Dept. A: $10 per MH; Dept B: $2 per DLH; Dept C: $4 per MH. D. Dept. A: $6 per MH; Dept B: $5 per DLH; Dept C: $4 per MH. E. Dept. A: $6 per MH; Dept B: $5 per DLH; Dept C: $3 per MH.