A continuous probability distribution is characterized by
A. a list of possible values.
B. counts.
C. an array of individual values.
D. a continuum of possible values.
Answer: D
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Baraban Corporation has provided the following data for its most recent year of operation: Selling price per unit$47 Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials$10Direct labor$6Variable manufacturing overhead$5Fixed manufacturing overhead per year$130,000Selling and administrative expenses: Variable selling and administrative expense per unit sold$5Fixed selling and administrative expense per year$63,000 Units in beginning inventory0Units produced during the year10,000Units sold during the year9,000Units in ending inventory1,000 The unit product cost under variable costing is closest to:
A. $26.00 B. $34.00 C. $21.00 D. $39.00
Owen Company's unadjusted book balance at June 30 is $9,700. The company's bank statement reveals bank service charges of $45. Two credit memos are included in the bank statement: one for $900, which represents a collection that the bank made for Owen, and one for $50, which represents the amount of interest that Owen had earned on its interest-bearing account in June. What is the true cash balance?
A. $10,695 B. $10,550 C. $10,605 D. $9,700
Parker Corporation has a job-order costing system and uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. At the beginning of the year, manufacturing overhead and direct labor-hours for the year were estimated at $50,000 and 20,000 hours, respectively. In June, Job #461 was completed. Materials costs on the job totaled $4,000 and labor costs totaled $1,500 at $5 per hour. At the end of the year it was determined that the company worked 24,000 direct labor-hours for the year and incurred $54,000 in actual manufacturing overhead costs. The manufacturing overhead for the year was:
A. $6,000 overapplied B. $10,000 overapplied C. $4,000 underapplied D. $10,000 underapplied
The financial crisis of 2008-09 affected the financial position of individuals in all of the following ways except which of these?
A) There was a reduction in new job opportunities. B) Employers could not afford to give their employees a raise. C) The value of many investments declined. D) The demand for homes increased because more homeowners were trying to sell their homes.