The Most Basic Use of Histograms Is to ____

question 29

Multiple Choice

The most basic use of histograms is to ____.

• A) establish that the null hypothesis is true
• B) determine whether an analysis of variance is needed
• C) analyze data statistically
• D) better understand the shape of the data

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Definitions:

Inventory Holding Costs

The expenses associated with storing unsold goods, including warehousing, insurance, and deterioration.

Product Fill Rate

The percentage of customer or sales orders fulfilled from stock at hand.

Order Fill Rate

A measure of supply chain efficiency that indicates the percentage of customer orders that are fulfilled without backorders or stockouts.

Safety Inventory

Extra inventory held to guard against uncertainty in demand or supply.