If the Value of the Standard Deviation Is Greater Than

question 9

Multiple Choice

If the value of the standard deviation is greater than the value of the range, then

• A) the distribution is heterogeneous
• B) the distribution is homogeneous
• C) the distribution is skewed
• D) none of these, since the standard deviation must always be less than the

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Definitions:

Physical Count

An actual count of inventory or assets, conducted at certain intervals, to ensure the accuracy of records and accounts.

Allocating Cost

The process of assigning costs to various cost objects such as products, services, or departments for accounting purposes.

Inventory Accounting

A method of accounting that deals with valuing and accounting for changes in inventoried assets, impacting how businesses report their cost of goods sold and value of inventory in financial statements.

Just-In-Time Systems

Inventory management systems that produce or provide items exactly when needed, minimizing inventory costs.