Calculate the Standard Deviation for Cost Per Order in the Following

question 14

Essay

Calculate the standard deviation for cost per order in the following table.
$\begin{array}{l|l}\text { Observation } & \text { Costper order } \\\hline \mathrm{X} 1 & \$ 1345 \\\hline \mathrm{X} 2 & \$ 4364 \\\hline \mathrm{X} 3 & \$ 1768 \\\hline \mathrm{X} 4 & \$ 2278 \\\hline \mathrm{X} 5 & \$ 4332 \\\hline \mathrm{X} 6 & \$ 2984 \\\hline \mathrm{X} 7 & \$ 3326\end{array}$

Understand the role of photoelectric and fiber optic sensors in detecting presence, distance, and other parameters.

Understand different types of decision-making biases and errors.

Recognize the importance of information validation and criteria for decision making.

Comprehend the principles of ethical decision making.

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Definitions:

Fixed Costs

Business expenses that remain unchanged regardless of the level of production or sales, such as rent, salaries, and insurance premiums.

Variable Costs

Costs that vary in direct proportion to changes in the level of production or sales volume.

Process Configuration

The arrangement and organization of operational processes and resources in a production or service system to optimize performance.

Intermittent Processes

Describes production or operational processes that are not continuous but occur at intervals or irregularly.