Leveraging Standard Deviation for Effective Inventory Management

Measure of Dispersion: Standard Deviation The standard deviation is a basic measure of dispersion that measures how far data points differ from the mean. It is a useful tool for determining the dispersion or variability of a dataset. In essence, it contributes to answering the question, "How much do data points differ from the average?" Inventory Management in Real-Life Business Standard deviation notion to a real-world business situation: invent