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Ellie's manager has asked her to come up with ways to reduce costs of their new product by utilizing a process called "target costing." What should Ellie do?
Interquartile Range
A measure of variability, defined as the difference between the 75th and 25th percentiles of a data set.
Interquartile Range
The difference between the 75th and 25th percentiles of a data set, representing the middle 50% of the data.
Outliers
Data points that differ significantly from the majority of a data set, often indicating variability in a measurement, experimental errors, or a novelty.
Standard Deviation
A statistical measure that quantifies the amount of variability or spread in a set of data points.
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