A Scanner Data User Survey of 50 Companies Found That

question 22

Multiple Choice

A Scanner Data User Survey of 50 companies found that the average amount spent on scanner data per category of consumer goods was $387,325 (Mercer Management Consulting, Inc., April 24, 1997) .The $387,325 is an example of _____.

• A) categorical data
• B) quantitative data
• C) a descriptive statistic
• D) Both quantitative data and a descriptive statistic are correct.

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Definitions:

Inventory on Hand

The total quantity of goods and materials held in stock by a business at any given time.

Ties up Funds

The process of allocating capital to long-term assets or investments, which restricts its immediate availability for other uses.

Safeguard Assets

Strategies and measures implemented to protect a company's assets from theft, damage, or misuse.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period, indicating the efficiency in managing stock levels.