Some Statisticians Use a Guideline That Says That Events That

question 21

Multiple Choice

Some statisticians use a guideline that says that events that happen 5% of the time or less often should be considered "unusual." By this standard, is it unusual to have a car speed of 75 mi/hr or greater?

• A)No, this would not be unusual because it is only 2 standard deviations higher than the mean.
• B)No, this would not be unusual because is only 1 standard deviation higher than the mean.
• C)Yes, this would be unusual because it is 3 standard deviations higher than the mean.
• D)Yes, this would be unusual because it is 4 standard deviations higher than the mean.

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Definitions:

Agility

The ability to move quickly and easily, often used in organizations to describe the ability to adapt rapidly to market changes or challenges.

Forecasts

Predictions about future conditions or occurrences, often based on statistical analysis or current trends.

Push Model

A distribution method where products are pushed through the supply chain, from production to final consumers, without direct consumer demand driving it.

Pull Model

A supply chain management strategy where the demand for product initiates production and distribution, in contrast to the traditional push model driven by forecasted demand.