TABLE 8-12 A Random Sample of 100 Stores from a Large Chain

question 70

True/False

TABLE 8-12
A random sample of 100 stores from a large chain of 500 garden supply stores was selected to determine the mean number of lawnmowers sold at an end-of-season clearance sale.The sample results indicated a mean of 6 and a standard deviation of 2 lawnmowers sold.A 95% confidence interval (5.623 to 6.377)was established based on these results.
-True or False: Referring to Table 8-12,of all possible samples of 100 stores drawn from the population of 1,000 stores,95% of the sample means will fall between 5.623 and 6.377 lawnmowers.

---

Definitions:

Gross Requirements

represent the total amount of materials or products required to meet production demands, before accounting for any existing inventory.

Product A

A placeholder name for a specific product, typically used in examples or theoretical discussions.

MRP II System

Manufacturing Resource Planning, an integrated method for effective planning of all resources of a manufacturing company.

Closed-Loop MRP

A materials requirement planning system that incorporates feedback to continuously update and improve the planning process based on actual performance.