Statistics Solutions

(Step-by-Step) The following table contains figures on the monthly volume and unit costs for a random sample of 16 items from a list of 2,000 inventory

Question: The following table contains figures on the monthly volume and unit costs for a random sample of 16 items from a list of 2,000 inventory items at a health care facility.

Item Unit Cost Usage
F95 30 800
Z45 80 200
K35 25 600
P05 16 500
F14 20 300
D45 10 550
K36 36 150
D57 40 120
K34 10 200
D52 15 110
M20 20 80
F99 20 60
N08 30 40
D48 12 90
M10 16 25
P09 10 30
  1. Develop an A-B-C classification for these items.
  2. How could the manager use this information?
  3. After reviewing you classification scheme, suppose that the manager decides to place item P05 into the A category.  What are some possible explanations for this decision?

Price: $2.99
Solution: The downloadable solution consists of 3 pages
Deliverable: Word Document


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