Suppose We Have a Group of 5 Children and Wish

question 43

Multiple Choice

Suppose we have a group of 5 children and wish to randomly select 2 from the group without replacement.How many possible unique samples of size 2 are possible if the order of selection does not matter?

• A) 2
• B) 5
• C) 20
• D) 10

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Definitions:

Supply Chain Inventory

This is the total of all the goods and raw materials held by different companies participating in the supply chain from production to the sale of the final product.

Physical Flow

The movement of physical goods and materials through a supply chain from suppliers to consumers.

Fixed-Period Inventory

A system of inventory management where stock levels are reviewed at set intervals and orders are placed as needed.

Economic Order Quantity

is a formula used to determine the optimal order size that minimizes the sum of ordering, holding, and stockout costs.