The Yates Correction May Only Be Applied

question 28

Multiple Choice

The Yates correction may only be applied

• A) when any fo is less than 5
• B) when any fo is less than fe
• C) when chi square equals 0
• D) none of these

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Definitions:

Economic Order Quantity

The amount of inventory a company should order to minimize its total inventory costs, including holding and ordering costs.

Fixed Quantity Inventory

A stock management strategy where inventory levels are replenished to a specific, predetermined quantity at regular intervals.

Inventory Control

The management of inventory to ensure that the right quantity of supplies is available to meet demand without excessive surplus.

PERT Network Diagram

A project management tool used to schedule, organize, and coordinate tasks within a project, which stands for Program Evaluation Review Technique.