The Ages of the Machines in One of the Production

question 57

Multiple Choice

The ages of the machines in one of the production lines in your company are exhibited in the frequency distribution table below. What is the minimum number of 6-year-old machines that you need to retire to change the median age of the machines?

• A) 1
• B) 2
• C) 3
• D) 4
• E) 5

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Definitions:

Bottom-Up Process

The bottom-up process is an approach to planning or decision-making that starts at the operational or tactical level and proceeds upwards, allowing decisions to be made based on detailed data and observations.

Desired Inventory

Desired inventory refers to the optimal amount of stock a business aims to maintain to meet expected demand without incurring excessive carrying costs or stockouts.

Budgeted Purchases

The projected amount of goods or services a business plans to buy over a certain period, usually as part of its budgeting process.

Budgeted Sales

The projected amount of sales, in units or monetary terms, as planned for a future period.