The Empirical Rule Says That Approximately What Percentage of the Values

question 95

Multiple Choice

The empirical rule says that approximately what percentage of the values would be within one standard deviation of the mean in a bell shaped set of data?

• A)95%
• B)68%
• C)50%
• D)97.7%
• E)100%

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Definitions:

Inventory Turnover

A metric that indicates how many times a company’s inventory is sold and replaced over a specific period.

Retail Method

An accounting technique used to estimate inventory value by calculating a cost to retail price ratio and applying it to the ending inventory at retail prices.

Merchandise Inventory

The total value of a retailer's goods that are available for sale to customers.