An Engineer Is Designing a Machine to Manufacture Gloves and She

question 17

Essay

An engineer is designing a machine to manufacture gloves and she obtains the following
sample of hand lengths (mm)of randomly selected adult males based on data gathered: $$\begin{array} { l l l l l l l l } 173 & 179 & 207 & 158 & 196 & 195 & 214 & 199\end{array}$$ Define this data set as discrete or continuous. The hand lengths is what type of level of
measurement? Compare the mean and median for this data set and if you can draw any
conclusions from these values.

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Definitions:

Fixed Costs

Costs that remain constant regardless of a business's operational levels, like lease payments, wages, and coverage fees.

Break-Even Point

The point at which total costs and total sales are equal, resulting in no net loss or gain for the business.

Contribution Margin

The gap between income from sales and variable expenses, which is utilized to pay for fixed expenses and produce earnings.

Selling Price

Selling price is the amount a buyer pays to purchase a product or service from a seller.