The proper use of statistical sampling may make it possible for the client to eliminate the need to count every item in the inventory on an annual basis.

Name: The proper use of statistical sampling may make it possible for the client to eliminate the need to count every item in the inventory on an annual basis.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Statistical sampling allows for the estimation of inventory quantities by examining a representative subset of the inventory, thereby reducing the need for a full count of every item annually.

The Proper Use of Statistical Sampling May Make It Possible