Examlex
The amount of time necessary for assembly line workers to complete a product is a normal variable with a mean of 15 minutes and a standard deviation of 2 minutes.So,60% of the products would be assembled within and minutes (symmetrically distributed about the mean).
Standard Deviation
A statistical measure of the dispersion or variability of a set of values, indicating how much the values in a data set deviate from the mean.
Capacity
The maximum level of output that a company can sustain to produce goods or services at a given time.
Demand Pattern
The trends, fluctuations, and behaviors in consumer demand over a specific period.
Standard Deviation
A statistical measure that quantifies the amount of variation or dispersion of a set of data values, indicating how much the numbers in a dataset differ from the mean or average.
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