For each statement below, argue for or against it. (a) The standard deviation and the coefficient...

60.1K

Verified Solution

Question

General Management

For each statement below, argue for or against it.
(a) The standard deviation and the coefficient of variationmeasure exactly the same thing. Hence, it does not make adifference if we use the standard deviation or the coefficient ofvariation to compare two experiments in terms of variability.
(b) Working at 100% utilization in the presence of variabilityis a good idea, because we aqre making the best out of ourresources. [Hint: What happens to waiting times when utilization is100%]
(c) Resource pooling is always a good idea

Answer & Explanation Solved by verified expert

4.0 Ratings (489 Votes)

a No Standard deviation and coefficient of variation are not the same thing and they dont measure the same thing Coefficient of variation Standard DeviationMean which provides useful information with the mean in context For example two experiments can both have a standard deviation of 100 but mean of 1st is 10000 and mean See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member