The Following Data Represent the Salaries (In Thousands of Dollars)

question 20

Short Answer

The following data represent the salaries (in thousands of dollars) of a sample of 13 employees of a firm: $$\begin{array} { | l | l | l | l | l | l | l | } \hline 26.5 & 23.5 & 29.7 & 24.8 & 21.1 & 24.3 & 20.4 \\\hline 22.7 & 27.2 & 23.7 & 24.1 & 24.8 & 28.2 & \\\hline\end{array}$$ Compute the median salary.

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Definitions:

Equipment Utilization

the extent to which machinery and equipment are employed in production, usually measured as a percentage of available time used.

Stability of Demand

The extent to which demand for a product or service is consistent and predictable over time.

Product-oriented Layout

A layout where workstations and equipment are arranged based on the sequence of operations needed to produce a specific product efficiently.

Product-oriented Layout

A Product-oriented Layout organizes a production facility around the sequence of operations performed on a particular product line, optimizing efficiency for that product's manufacturing process.