why we find order statistics?
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why we find order statistics? explain in your own words
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- China effectively shuts down for two weeks each year and celebrates the lunar new year. How does that resemble (or not) peak season in Western countries?Explain the importances of identifying and differentiating order of qualifiers and order winners?What is meant by the terms order qualifiers and order winners?Explain why they are important.
- Define order qualifiersWhat is system? Define it by giving an two examples2. The Ashton Furniture Company manufactures coffee tables and chest of drawers. Last year the company's cost of goods sold was $3,700,000, and it carried inventory of oak, pine, stains, joiners, and brass fixtures, work-in-process of furniture frames, drawers and wood panels, and finished chests and coffee tables. Its average inventory levels for a 52-week* business year were as follows. Raw Materials Oak Pine Brass fixtures Stains Joiners Work-in-Process Frames Drawers Panels Chests Tables Finished Goods Chests Coffee tables *1 week = 7 days Average Inventory 8000 4500 1200 3000 900 200 400 600 120 90 300 200 Unit Cost $6 4 8 2 1 $30 10 50 110 90 $500 350 Formula: Inventory turns = Cost of goods sold / Average aggregate value of inventory Days of supply = Average aggregate value of inventory / (Cost of goods sold / total days) Question: Determine the number of inventory turns and the days of supply for the furniture company.