The Population Variance Is

question 33

Multiple Choice

The population variance is

• A) an estimate of the sample variance.
• B) calculated exactly like the sample variance.
• C) a biased estimate.
• D) usually an unknown that we try to estimate.

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Definitions:

Mass Customization

A production and marketing technique that combines the flexibility and personalization of custom-made products with the low unit costs of mass production.

Repetitive Focus

involves a production strategy concentrated on producing high volumes of a few standardized products or services, often characterized by a continuous production flow.