Sta 270 exam 2 - Study guides, Class notes & Summaries

STA 270 EXAM 2 QUESTIONS AND ANSWERS...

CHAPTER 1: INTRODUCTION TO COST ACCOUNTING 1. The business entity that converts purchased raw materials into finished goods by using labor, technology, and facilities is a: a. Manufacturer. b. Merchandiser. c. Service business. d. Not-for-profit service agency. ANSWER: RATIONALE: POINTS: DIFFICULTY: LEARNING OBJECTI VES: ACCREDITING STAN DARDS: a The business entity that converts purchased raw materials into finished goods by using labor, technology, and facilities is a manufacturer. ...

1. TQM: Total Quali- ty Management 2. Customer De- fined Quality 3. Conformance to specification 4. Example of Con- formance to specification is an integrated organizational effort designed to improve quality at every level. TQM is about meeting quality expectations as defined by the customer. measures how well the product or service meets the targets and tolerances determined by its designers. The wait for hotel room service may be specified as 20 minutes, but there may be an acceptable delay...

STA 270 Exam Study Guide Solutions Identify the cases and variables in the situations below, label the variables as categorical or quantitative Asking US citizens whether or not they support gun control - ANSWER-cases: US citizens Categorical Variable: support or not support Identify the cases and variables in the situations below, label the variables as categorical or quantitative Asking college students how many hours of sleep they got last night - ANSWER-Cases: college students Quantit...