The Average Order Size for a Home Shopping Company Follows

question 122

Essay

The average order size for a home shopping company follows a bell-shaped and symmetrical distribution has a mean equal to $75 and a standard deviation equal to $10.What range of sales order size would we expect to see 95 percent of the time?

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Definitions:

Output/Input

A measure of efficiency that compares the quantity or quality of outputs (results, products) generated by a system to the inputs (resources, time) used.

Productivity

The measure of how efficiently resources are used to produce outputs.

Inputs

Resources used in the production process to generate outputs, including raw materials, labor, and capital.

Transformed Into Outputs

The process of converting inputs such as raw materials, labor, and energy into finished goods or services.