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Sienna Company produces earrings, bracelets, and necklaces that are in high demand.Following is information for each of these products: Sienna has 2,000 machine hours available each month.Demand for each item exceeds Sienna's capacity to produce the item.In order to maximize the company's total contribution margin, in what sequence should Sienna fill orders for the three products?
Range
The difference between the highest and lowest values in a set of numbers, indicating the extent of variation.
Interquartile Range
A measure of statistical dispersion, representing the difference between the 75th and 25th percentiles, or the middle 50% of a data set.
Outliers
Data points that lie far outside the range of the majority of a data set, deviating significantly from other observations.
Interquartile Range
The difference between the 25th and 75th percentile in a data set, showing the spread of the middle half of the values.
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