What Is(are) the Most Widely Used Measure(s) of Dispersion

question 66

Multiple Choice

What is(are) the most widely used measure(s) of dispersion?

• A) Range
• B) Interquartile range
• C) Variance and standard deviation
• D) Covariance and the correlation coefficient

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Definitions:

Safety Capacity

Additional capacity reserved to ensure a system can meet unexpected demand spikes, thereby reducing the risk of service or product delivery failure.

Planning Horizon

The future period over which an organization forecasts its operations and plans its strategies.

Aggregate Plan

An approach to operational planning that seeks to balance demand and supply in a way that minimizes costs over a medium-term period, focusing on general output levels.

Aggregate Planning

A process by which a company determines levels of capacity, production, subcontracting, inventory, and stockouts to optimize costs against flexibility.