What Is a Reorder Point

question 220

Short Answer

What is a reorder point?

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Definitions:

Cumulative Distribution

A method of converting a frequency distribution of scores into increasing percentages as a function of the percentage of scores counted. A bar graph is often generated by placing the class interval scores along the x-axis and the cumulative percentages along the y-axis.

Frequency Polygon

A method of converting a frequency distribution of scores into a line graph. After combining scores by class interval, the class intervals are placed along the x-axis and the frequency of scores along the y-axis.

Positively Skewed Curve

A set of test scores in which the majority fall at the lower or negative end. It is said to be a positively skewed curve or distribution because a few “positive” or high-end scores have stretched or skewed the curve to the right.

Median

The middle value in a data set when it is arranged in ascending order, or the average of the two middle values if there is an even number of observations.