A Graphical Representation of a Frequency Distribution in Which Vertical

question 8

Multiple Choice

A graphical representation of a frequency distribution in which vertical bars are centered above each category along the x-axis and are separated from each other by a space,is a _____.

• A)histogram
• B)bar graph
• C)pie graph
• D)frequency polygon

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Definitions:

Optimum Lot Size

The most cost-effective quantity of items for production or purchase in a single order that minimizes total costs including ordering, holding, and inventory costs.

Inventory Carrying Cost

The total costs associated with holding and storing unsold goods, including warehousing, insurance, depreciation, and opportunity costs.

Production Setup

The process of preparing and arranging resources and equipment to begin a manufacturing operation.

ABC Analysis

An inventory categorization technique that divides items into three categories (A, B, and C) based on their importance and value to the organization.