The Table Below Shows Data on Total Assets ($ Million)

question 17

Essay

The table below shows data on total assets ($ million) for a sample of a bank's branches.
For the data on total assets ($ million) for the sample provided:
a. Calculate the mean.
b. Calculate the standard deviation.
c. Standardize the asset value of the third branch (find the z score). Interpret its meaning.

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Definitions:

Item Classification

involves categorizing items in inventory or production based on certain criteria such as demand frequency, value, or importance to enable more efficient management and control.

Inventory Management

The supervision and control of ordering, storing, and using a company's inventory to minimize costs and meet customer demand efficiently.

ABC Analysis

A method for dividing on-hand inventory into three classifications based on annual dollar volume.

Tightly Controlled

Describes systems or processes that are managed with strict regulations or rules to ensure desired outcomes.