The Coefficient of Variation (CV)is a Measure of Relative Dispersion

question 83

True/False

The coefficient of variation (CV)is a measure of relative dispersion that expresses the standard deviation as a percentage of the mean (provided the mean is positive).

Understand the four generic business strategies: Cost Leadership, Differentiation, Cost Focus, and Differentiation Focus.

Know the historical application of these strategies by examining case studies such as Henry Ford’s Model T production.

Identify characteristics of cost-leadership and differentiation strategies and how they target broad market segments.

Recognize cost focus and differentiation focus strategies and their targeting of specific market segments.

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Definitions:

Finished Goods Inventory

The stock of completed products that are ready to be sold.