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To test the mileage efficiency of three new car models,random samples of various sample sizes were selected from each of the three cars and the mpg data obtained are shown below. Based on the sample date,one can conclude that
Efficient
The quality of achieving maximum productivity with minimum wasted effort or expense.
Cycle Inventory
Inventory that is held to manage the normal fluctuation of production or supply and demand, rotating through cycles of replenishment.
Safety Inventory
Extra stock kept in storage to guard against uncertainty in demand or supply, ensuring product availability.
Seasonal Inventory
Inventory that is purchased or produced in anticipation of season-based demand increases, such as holiday merchandise.
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