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TABLE 3-4
The ordered array below represents the number of cargo manifests approved by customs inspectors of the Port of New York in a sample of 35 days:
16, 17, 18, 18, 19, 20, 20, 21, 21, 21, 22, 22, 22, 22, 23, 23, 23, 23, 24, 24, 24, 25, 25, 26, 26, 26, 27, 28, 28, 29, 29, 31, 31, 32, 32
Note: For this sample, the sum of the values is 838, and the sum of the squared differences between each value and the mean is 619.89.
-Referring to Table 3-4, the range of the customs data is ________.
Major Classification
A broad grouping or categorization within a system or methodology used for organizing complex sets of data or information, often to simplify analysis or understanding.
Market
A market is a place or system where parties engage in exchange of goods, services, or information, typically determined by the forces of supply and demand.
Inventory Valuing
Refers to the practice of assessing and reporting the value of a company's inventory using specific methods like FIFO (First In, First Out) or LIFO (Last In, First Out).
Consignor
The name for the manufacturer in a consigned inventory arrangement.
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