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In a hearing test,subjects estimate the loudness (in decibels) of sound,and the results are;68,67,70,71,68,75,68,62,80,73,68 What is the 65th percentile?
EOQ
Economic Order Quantity; the ideal order quantity a company should purchase to minimize its inventory costs, including holding, shortage, and order costs.
Just-In-Time
An inventory management strategy that aims to increase efficiency and reduce waste by receiving goods only as they are needed in the production process.
Manufacturing Firms
Companies engaged in the production of goods in large quantities, often utilizing complex machinery and human labor in factories.
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