The Three Basic Measures of Inventory Are Inventory Turnover, Average

question 10

Multiple Choice

The three basic measures of inventory are inventory turnover, average aggregate inventory, and:

• A) inventory depreciation
• B) inventory amortization
• C) weeks of supply
• D) multifactor inventory
• E) speed of obsolescence

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how spread out the values are from the average.

Deviations

Differences between observed values and the average of those values in a dataset.

Mean

The arithmetic average of a set of numbers, calculated by adding all the numbers together and dividing by the quantity of numbers.

Individual Data Elements

Single pieces of information or data that are collected and analyzed in a research study.