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In order to plan properly for production, a firm must have adequate inventory. One factor influencing the inventory policy of a firm is the variability of lead time, which is the time between when goods are ordered and when they actually arrive. A computer manufacturing firm is investigating the possibility of having its disk drives shipped from Taiwan using ShipCo lines. The computer firm has obtained shipping information for a sample of 48 orders made to ShipCo by comparable computer firms. The lead times are summarized in the histogram below: Frequency 20 20+ 15+ 12 10+ 5- 4 4 4 12 16 20 24 Lead time (in days) Based on this histogram, estimate the standard deviation of the sample of 48 lead times. Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.

In order to plan properly for production, a firm must have adequate inventory. One factor influencing the inventory policy of a firm is the variability of lead time, which is the time between when goods are ordered and when they actually arrive. A computer manufacturing firm is investigating the possibility of having its disk drives shipped from Taiwan using ShipCo lines. The computer firm has obtained shipping information for a sample of 48 orders made to ShipCo by comparable computer firms. The lead times are summarized in the histogram below: Frequency 20 20+ 15+ 12 10+ 5- 4 4 4 12 16 20 24 Lead time (in days) Based on this histogram, estimate the standard deviation of the sample of 48 lead times. Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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In order to plan properly for production, a firm must have adequate inventory. One factor influencing the inventory policy of a firm is the variability of lead time, which is the time between when goods are ordered and when they actually arrive. A computer manufacturing firm is investigating the possibility of having its disk drives shipped from Taiwan using ShipCo lines. The computer firm has obtained shipping information for a sample of 48 orders made to ShipCo by comparable computer firms. The lead times are summarized in the histogram below: Frequency 20 20- 15- 12 10- 5 4 4 0- 4 12 16 20 24 Lead time (in days) Based on this histogram, estimate the standard deviation of the sample of 48 lead times. Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.
Transcribed Image Text:In order to plan properly for production, a firm must have adequate inventory. One factor influencing the inventory policy of a firm is the variability of lead time, which is the time between when goods are ordered and when they actually arrive. A computer manufacturing firm is investigating the possibility of having its disk drives shipped from Taiwan using ShipCo lines. The computer firm has obtained shipping information for a sample of 48 orders made to ShipCo by comparable computer firms. The lead times are summarized in the histogram below: Frequency 20 20- 15- 12 10- 5 4 4 0- 4 12 16 20 24 Lead time (in days) Based on this histogram, estimate the standard deviation of the sample of 48 lead times. Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.
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