Will I need to know the formulas for calculating direct labor variances?

For those that used the TI-36X on Statistics:

I'm now up to the the probability section of the IC cards (about 60% through the material). I have a good grasp of the first 3 sections. So far, I have been able to figure out all the calculations on my TI-36X, with a couple of exceptions:

1) Standard Error of the Estimate - Does anybody know how to do this one on the TI-36X? It is the 2nd to last question on the Correlation/regression (section 3) portion of the IC cards. I could go through each process listed below, however, up to this point I have been able to solve all the calculations by hitting a few buttons on the TI-36X, without going through all the steps, etc. For some reason, I can't figure this one out:

"It involves finding the difference between each observed value (actual values of Y and estimated values of Y), squaring that, and adding up all those differences squared. Then you divide by the number of values to get an average, and find the square root."

2) What is the difference between the Standard Deviation for a sample or a poulation? It is a matter of hitting the oxn or the oxn-1 button on the TI-36X. Each button gives a different answer. What is the difference?

As the guy who started an earlier thread on how the end is near, I just wanted to let everyone know that I was shocked and amazed when that sweet 61 appeared on the screen when I was done. I feel the earlier post by Snazzlefrag was crucial to my approach for time management of the test. I finished with 2:38 to spare. I spent most of yesterday evening reviewing all the basic concepts and felt somewhat confident when I was able to answer 90% of the IC flash cards. For those of you who might still be taking it tomorrow, here is how I approached it:

1. I allocated about one minute per question. This left me with a 10 minute buffer for review assuming I took the full time with each question.
2. The easy questions are the 1 -3 liners. These are the basics and can be answered very quickly. The answer is pretty obvious. There were about 10 questions in this category that I rattled off in under 15 seconds each.
3. Immediately mark and skip questions that require calculations that are not obvious. You'll know them when you see them as they tend to have many figures and/or are especially wordy. Taking previous advice, you can lose a tremendous amount of time trying to tackle these on the first go around. I had about 12 questions in this category. There were a few that appeared difficult off the bat but were basic calculations that applied basic principles. I answered those.
4. I answered to the best of my ability conceptual questions that were medium hard. Usually only two of the answers are possibly correct. I marked any that I was unsure of to return to if there was time, but made sure that I answered them. I used some of the time that I banked in step 2 in this step.
5. By my first run through of the test, I had 35 minutes left, 12 unanswered questions, and about 15 marked for potential review.
6. I allocated a minute for each of the 12. If I couldn't calculate quickly, I guessed. I felt that even if I only got 3 or 4 right I still would pass.
7. I spent the rest of the time reviewing the marked ones in step 4. I did change a couple of answers after re-reading them. By that time the nervous energy had dissipated and I felt more focused.

So thanks to all for their encouragement and feedback. Needless to say I am very relieved the test is over and looking forward to the Principles of Marketing which should be simple compared to this.

--Joel

Hello everyone,

I need one more upper level test for the BSGB 12 credit requirement.

I have already done.... DSST Money and Banking
Tomorrow will take..... DSST MIS
Next month will take ... DSST Business law II

I need one more U/L and have seen threads on both so I am looking for suggestions on which one to take, ECE Labor relations or ECE HRM.
(Honestly I am looking for the easier one to take).

Since I am asking, would Excelsior accept the DSST Org behavior and the DSST Ethics in America to fulfill those requirements?

Thanks again,
Mike

Passed principles of accounting- 59. I couldn't have done it without all of you, specifically Snazz and Kiwi Lover. A HUGE THANK YOU! During the test, I had to keep reminding myself to move on from the calculation problems. Even though I may have known the formula, I really didn't have time to apply them. I mostly read over chapter summaries and reread those areas where I was foggy. Concentrate on basics... where have we heard that before?!?
I didn't have time to do anything but part one managerial on IC once. I picked up most of my managerial knowledge by practice exams. A sigh of relief and a movie tonight for this family!
For those yet to take it-- don't leave any question unanswered and know the basics.

what are the important points in Managerial accounting that came in the exam?

thanks!

i'm sorry i made an another accounting thread but i have the exam in about 14 hours and i need to know ASAP.

What is the practical difference in these? Is one for expense recognition and the other as a "holding" account until you credit cash when you pay it? When that electric bill comes in,do you utilities expense or utilities payable it first? Thank you in advance.

Got a B

used instant cert but my secret weapon was not only taking the excelsior practice tests, but also saving screen shots of each question BEFORE answering.
So instead of taking this test one time, I got to take it as many times as I wanted with the screenshots serving as flashcards.

Screenshots are the way to go for practice tests

Good luck!!

In the official study guide, question 40 is as follows:

Net purchases for the year amounted to $80,000. The merchandise inventory at the beginning of the year was $19,000. On sales of $120,000, a 30 percent gross profit on the selling price was realized. The inventory at the end of the year was ($15,000)

I don't know how or why it's $15,000.

Ok, so I finally found a place that gives DSST exams and they are all computerized, which I assume means I will see my score as soon as I finish the exam?

Anyway, I have taken Statistics years ago and received a "C" and I have taken Business Math and recieved a "B". Now that I have really taken to testing out of courses, LOL, I want to take these two exams and improve my GPA. Anyone know what are the best materials to prepare? I believe many have had success with STATS FOR DUMMIES, is that enough to pass the stats exam?