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Reducing the significance level (alpha) will:
Material Cost
The expense incurred in acquiring the raw materials needed to produce a good, often a significant portion of total production costs.
Holding Cost
The expenses associated with storing unsold goods, including storage, insurance, and deteriorating costs.
Purchase Price
The amount of money paid to acquire a product or service.
Cycle Inventory
Inventory that a company needs to meet average demand in the timeframe between placing new orders, part of inventory management.
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