Chu Company provided the following information related to its inventory sales and purchases for December Year 1 and the first quarter of Year 2: 
Desired ending inventory levels are 25% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February Year 2 would be:
Definitions:
Statistics Students
Individuals engaged in the study of the collection, analysis, interpretation, presentation, and organization of data.
Graphical Summary
A representation of data in a visual format, such as charts or graphs, to highlight patterns, trends, and summaries of the dataset.
Data Value
A specific measurement or piece of information that is collected for analysis.
Dot Plot
A statistical chart consisting of data points plotted on a simple scale, each dot representing a value.
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