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What three logistics-related costs are relevant when analyzing the choice of number of facilities in a distribution network?
Standard Deviation
A measure of the dispersion or variation in a set of values, indicating how spread out the values are from the mean.
Confidence Level
The likelihood that a confidence interval encompasses the actual population parameter.
Sample Size
The number of observations or specimens collected for the purpose of statistical analysis.
Population Mean
The average value of a characteristic in a population, representing a parametric measure of central tendency.
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