Economic Order Quantity Refers to the Order Size That

question 28

Multiple Choice

Economic order quantity refers to the order size that

• A)minimizes the size of the order.
• B)minimizes the carrying costs associated with inventory.
• C)minimizes total inventory costs.
• D)minimizes the ordering costs associated with inventory.

---

Definitions:

Scatterplot

A type of graphical representation showing the relationship between two variables wherein each point represents an observation.

Ordered Pairs

Pairs of elements (x, y) arranged in a specific order, used to define coordinates on a plane.

Disposable Income

Disposable income is the amount of money that households have available for spending and saving after income taxes have been accounted for.

Frequency Distribution

An overview of how often each value in a set of data occurs, typically represented in a table or graph.