Which One of the Following Has Nothing to Do with Inventory

question 17

Multiple Choice

Which one of the following has nothing to do with inventory management?

• A)EOQ
• B)JIT
• C)FIFO
• D)DSO

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Definitions:

Standard Deviations

A metric indicating the degree of spread or variability in a collection of numbers, highlighting the distance of individual values from the central mean.

Chebyshev's Theorem

A statistical theorem which states that for any real number greater than one, a certain proportion of values in any data set will be close to the mean, based on the number of standard deviations specified.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values, indicating how spread out the values are from their mean.

Midrange

The arithmetic average of the maximum and minimum values in a data set.