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What are the advantages of holding inventory?
Standard Errors
Standard errors quantify the variability or uncertainty in a statistic, such as the mean, estimated from a sample when it is used to estimate the true population parameter.
Assignable Variation
Variation in a process that is caused by identifiable factors, often signaling an issue or change in the process that needs to be addressed.
Level Shift
A statistical term describing a sudden change in the mean level of a time series dataset.
Instability
The state of being prone to change, variation, or unpredictability, often in a way that is difficult to control or manage.
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