The Following Data Reflect the Number of Customers Who Return

question 86

Multiple Choice

The following data reflect the number of customers who return merchandise for a refund on Monday.Note these data reflect the population of all 10 Mondays for which data are available. Assume that this same exact pattern of data were replicated for the next ten days.How would this affect the standard deviation for the new population with 20 items?

• A)The standard deviation would be doubled.
• B)The standard deviation would be cut in half.
• C)The standard deviation would not be changed.
• D)There is no way of knowing the exact impact without knowing how the mean is changed.

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Definitions:

Vendor Managed Inventory

A business model where the supplier assumes the responsibility of managing inventory levels at the retailer or buyer’s location, aiming to improve supply chain efficiency.

Coordinated Stocking

A strategy where inventory levels across different locations or stages in a supply chain are managed in sync to optimize overall performance and minimize costs.

Sell-in to Sell-through

The process from selling products into retail channels (sell-in) to the actual sale of those products to the end consumers (sell-through).

CRP System

Continuous Replenishment Program, a supply chain management strategy aimed at improving inventory management and enhancing the flow of goods from suppliers to consumers.