Almost all medical schools in the united states require students to take the medical college admission test (mcat). to estimate the mean score of those who took the mcat on your campus, you will obtain the scores of an srs of students. the scores follow a normal distribution, and from published information you know that the standard deviation is 10.8 . suppose that, unknown to you, the mean score of those taking the mcat on your campus is . 24.
in answering the following, use z-scores rounded to two decimal places.
if you choose one student at random, what is the probability (±±0.0001) that the student's score is between 20 and 30?
you sample 22 students. what is the standard deviation (±±0.01) of sampling distribution of their average score x¯¯¯x¯?
what is the probability (±±0.0001) that the mean score of your sample is between 20 and 30?
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(a) underallocated overhead occurs when allocated overhead costs are less than actual overhead costs.
in accounting, overhead usually refers to the indirect manufacturing costs, therefore in this instance, the actual manufacturing overhead cost, are more than alloacted manufacturing overhead costs.
the correct answer is - c) planned economies.
the socialist economy type is a planned economy. the planning though is for the whole economy, and it is done by the government officials. this type of economy was witnessed in multiple places around the world, ussr, yugoslavia, cuba, china, and more recently in venezuela, libya, and north korea.
in general, this type of economy seems to often have very big problems because of the planning, as it more often than not is mistaken. that has often led to making huge debts, famines, and suffering of the people, and eventually this systems tend to fall apart.
the only exception seems to be libya, under the rule of gaddafi, where the economy and the society were thriving, but it was all ruined by a foreign intervention.