Frequency Distributions May Be Used to Describe Which of the Following

question 120

Multiple Choice

Frequency distributions may be used to describe which of the following types of data?

• A) Nominal and ordinal data only
• B) Nominal and interval data only
• C) Nominal, ordinal, and interval data only
• D) Nominal, ordinal, interval, and ratio data

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Definitions:

Inventory Reconciliation

The process of verifying that actual inventory matches recorded inventory, often involving adjustments for discrepancies.

Raw Material Inventory

Materials that are usually purchased but have yet to enter the manufacturing process.

Safety Stock Computation

The calculation of a buffer quantity of inventory kept on hand to prevent stockouts, based on variability in demand and supply.

Standard Deviation

A statistical measure of the dispersion or variability within a data set, indicating how much individual values differ from the average.