a. Is the idea of a perfect order in logistics a realistic operational performance goal? Discuss. (2 marks)
b. Discuss the implications of DIFOT (Deliveries in Full, on Time) to warehouse management. What are its limitations? (3 marks)
Answers
A. The idea of a perfect order in logistics, where every order is delivered accurately, on time, and in perfect condition, is an ambitious operational performance goal.
B. DIFOT (Deliveries in Full, on Time) is a key performance metric used in warehouse management to assess the efficiency and effectiveness of order fulfillment.
A. The idea of a perfect order in logistics, where every order is delivered accurately, on time, and in perfect condition, is an ambitious operational performance goal. While it may be challenging to achieve consistently in practice, it can still be a valuable goal to strive for.
A perfect order ensures customer satisfaction, enhances the company's reputation, and strengthens customer loyalty. It can lead to improved operational efficiency, reduced costs, and increased competitiveness. However, achieving a perfect order requires coordination and collaboration among various stakeholders in the supply chain, including suppliers, manufacturers, distributors, and transportation providers. It also requires effective inventory management, accurate forecasting, efficient order processing, and reliable delivery mechanisms.
While aiming for a perfect order is desirable, it may not always be realistic due to various factors beyond the control of a single organization, such as unforeseen disruptions, external market conditions, or human errors. Setting unrealistic expectations can lead to frustration and disappointment. Therefore, it is important for companies to strike a balance between striving for perfection and acknowledging the limitations and challenges inherent in logistics operations.
B. DIFOT (Deliveries in Full, on Time) is a key performance metric used in warehouse management to assess the efficiency and effectiveness of order fulfillment. It measures the percentage of orders that are delivered to customers without shortages or damages, and within the agreed-upon delivery time frame.
DIFOT has several implications for warehouse management. Firstly, it emphasizes the importance of accurate inventory management and stock availability. Warehouse managers need to ensure that inventory levels are maintained to meet customer demand and avoid stockouts. Efficient order picking and packing processes are crucial to achieve full order fulfillment.
Secondly, DIFOT highlights the significance of reliable transportation and logistics networks. Warehouse managers need to work closely with transportation providers to ensure timely deliveries and minimize delays. Effective coordination and communication between the warehouse and transportation teams are essential.
However, DIFOT has its limitations. It does not consider the speed or efficiency of order processing within the warehouse. It focuses solely on the final delivery performance and may overlook potential inefficiencies or delays that occur earlier in the supply chain. Additionally, DIFOT may not account for situations beyond the control of the warehouse, such as adverse weather conditions or disruptions in the transportation network.
In conclusion, DIFOT is a valuable metric for warehouse management to monitor order fulfillment performance. However, it should be complemented with other performance indicators to gain a comprehensive understanding of overall operational efficiency and identify areas for improvement.
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Related Questions
In the accounting equation, assets are equal to which two things?
A. Debits + equity
B. Debits + accounts
C. Liabilities + equity
D. Liabilities + accounts
Please select the best answer from the choices provided
A
B.
OOOO
С
D
Answers
Answer:
C. Liabilities + equity
Explanation:
Edg 2021 ...
Question 2 of 10
Jeremy doesn't have a lot of money to spend on advertising, but he knows his
target audience are local outdoor enthusiasts. Which type of media format
should Jeremy use to advertise?
A. Local newspapers
B. Billboards on busy streets
C. National television commercials
D. Plane banners
Answers
Answer:
B. Billboards on busy streets
Explanation:
Billboard advertising involves making use of large-scale print advertisements to market a company's products and services. Billboards are strategically mounted in high traffic areas to pass their message to as many people as possible. Busy highways and streets, strategically located buildings are ideal places to put billboards.
Jeremy should consider using billboards for the following reasons.
His clients are local outdoor enthusiasts; he needs to find out their favorite destinations are put billboards along the way. This way, he will capture their attention.Billboards are less costly compared to other advertisement options, such as television or plane banners.Billboards will be effective in his case. Because his clients are local, and billboards remain in place for several days or weeks, his target clients will not fail to spot them.Answer:local news papers
Explanation:
Transcontinental Airlines maintains a computerized forecasting system to forecast the number of customers in each fare class who will fly on each flight in order to allocate the available reservations to fare classes properly. For example, consider economy-class customers flying in midweek on the noon flight from New York to Los Angeles. The following table shows the average number of such passengers during each month of the year just completed. The table also shows the seasonal factor that has been assigned to each month based on historical data. a. After considering seasonal effects, compare both the MAD and M.SE values for the last-value method, the averaging method, the moving average method (based on the most recent three months), and the exponential smoothing method (with an initial estimate of 80 and a smoothing constant of α = 0.2) when they are applied retrospectively to the past year. b. Use the forecasting method with the smallest MAD value to forecast the average number of these passengers flying in January of the new year.
Answers
The table given shows the average number of midweek noon flight from New York to Los Angeles for the economy class customers during the past year. The season factor which is determined using historical data is also given. We have to compare MAD and M.SE values for each forecasting method after considering seasonal effects.
The following table represents the forecasted values using four different methods. Forecasted values using last-value method :For the first month (January), the forecast value is the actual value for December. And for the rest of the months, forecast values are equal to actual values of the previous month.Forecasted values using the Averaging Method :For the first month, the forecast value is the actual value of December. And for the rest of the months, forecasted values are equal to the average of the previous two months.Forecasted values using Moving average method (based on the most recent three months) :The forecasted values are based on the average of the three most recent months. For the first two months, the actual values are used, and for the rest of the months, the forecasted value is based on the average of the three most recent actual values.Forecasted values using exponential smoothing method:This method is used when the data has a trend or seasonality. Here, the initial estimate is 80 and the smoothing constant is α = 0.2. Therefore, we get the forecasted values for each month in the table. M.AD (mean absolute deviation) values are calculated by subtracting the forecasted values from the actual values and then taking their absolute values. M.SE (mean square error) values are obtained by squaring the difference between actual and forecasted values and then taking their average. The MAD and M.SE values for each method is tabulated below:Table: MAD and M.SE valuesFrom the table, it can be concluded that the exponential smoothing method has the lowest MAD and M.SE values. Thus, we can say that the exponential smoothing method is the best method to forecast the number of customers flying in the midweek noon flight from New York to Los Angeles.
Transcontinental Airlines has a computerized forecasting system that forecasts the number of customers in each fare class that will fly on each flight to allocate the available reservations to fare classes properly. To forecast the number of economy class customers flying on midweek noon flights from New York to Los Angeles, the airline uses seasonal factors determined using historical data. The given table shows the average number of such passengers during each month of the previous year, along with the seasonal factors. Four different forecasting methods are used to forecast the number of passengers flying in the midweek noon flight from New York to Los Angeles. The four methods are last-value, averaging, moving average, and exponential smoothing methods. All four methods are applied retrospectively to the previous year while considering seasonal effects. After applying the four methods, MAD and M.SE values are calculated and compared for each method. MAD and M.SE are used to determine the accuracy of a forecasting method. The MAD value for each method is calculated by subtracting the forecasted value from the actual value and taking the absolute value of the result. M.SE is calculated by squaring the difference between the forecasted value and the actual value, summing the squares of the differences, and dividing the sum by the total number of observations. From the calculated values, it is clear that the exponential smoothing method has the lowest MAD and M.SE values. Therefore, we can conclude that the exponential smoothing method is the best method for forecasting the number of customers flying on the midweek noon flight from New York to Los Angeles.
After analyzing the MAD and M.SE values, it can be concluded that the exponential smoothing method is the best method for forecasting the number of customers flying in the midweek noon flight from New York to Los Angeles. The MAD value and M.SE value were the lowest for this method when compared to the other three methods. Exponential smoothing method takes into account the trend and seasonality in data. The initial estimate of 80 and the smoothing constant α = 0.2 are used to calculate the forecasted values.
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Jordan Company, which sells electric razors, had $380,000 of cost of goods sold during the month of June. The company profects a 9. percent increase in cost of goods sold during July. The inventory balance as of June 30 is $31,000, and the desired ending inventory balance for July is $32,000 Jordan pays cash to settle 80 percent of its purchases on account during the month of purchase and pays the remaining 20 percent in the month following the purchase. The accourits payable bafance as of June 30 was $32,000 Required o. Determine the amount of purchases budgeted for July. b. Determine the amount of cash payments budgeted for invertory purchases in July
Answers
a. The amount of purchases budgeted for July is $424,000. b. The amount of cash payments budgeted for inventory purchases in July is $369,600.
To determine the amount of purchases budgeted for July, we need to calculate the desired ending inventory for July and the cost of goods sold increase. The desired ending inventory for July is given as $32,000. To calculate the cost of goods sold increase, we multiply the current cost of goods sold in June by the projected increase of 9. percent: $380,000 * 1.09 = $414,200. The total cost of goods available for sale in July is the sum of the desired ending inventory and the projected cost of goods sold increase: $32,000 + $414,200 = $446,200. Since 80 percent of purchases are paid in the month of purchase, the amount of purchases budgeted for July is $446,200 / 0.8 = $557,750.
To determine the amount of cash payments budgeted for inventory purchases in July, we need to calculate the amount of purchases on account. Since 80 percent of purchases are paid in the month of purchase and 20 percent are paid in the following month, the cash payments budgeted for inventory purchases in July can be calculated by multiplying the amount of purchases on account by 80 percent: $557,750 * 0.8 = $446,200. Therefore, the amount of cash payments budgeted for inventory purchases in July is $446,200.
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what is the income flow associated with labour?
Answers
Answer:
Explanation:
Factor income is the flow of income that is derived from the factors of production ,the general inputs required to produce goods and services. Factor income on the use of land is called rent, income generated from labor is called wages, and income generated from capital is called profit.
6. Devonn has a checking account that charges $0.25 for each check written and a monthly service charge of $1200. Write a formule that Devenn can use each morth to find the fees he will be charged. Identify any voriable you use in the formula.
Answers
Answer:
1200÷12 or 0.25×1200÷12 maybe? plz tell me if I'm right cuz I actually wanna know too
how do you the accounting equation
Answers
Answer:
1. Assets = Liabilities + Owner Equity.
2. Liabilities = Assets - Owner Equity.
3. Owner Equity = Assets - Liabilities.
The study of group __________ helps us to recognize the formation of a group and states how the group should be organized, lead and promoted. Fill in the blank.
Answers
Answer:
dynamics
Explanation:
Group dynamics is a term that is used in describing the formation and the actual nature or characteristics of a group in connection to every member of the group and or in relation to how the group interacts with other groups.
Hence, the study of group DYNAMICS helps us to recognize the formation of a group and states how the group should be organized, lead, and promoted.
When the Group of dynamics may be a term that's utilized in describing the formation and also the actual nature or characteristics of a bunch in connection to each member of the group and or in respect to how the group interacts with other groups.
DynamicsHence, the study of social psychology that is Dynamics helps us to acknowledge the formation of a gaggle and states how the group should be organized, lead, and promoted.
Thus, the correct answer is Dynamics
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What is the gig economy?
Answers
Answer:
A flexible market that allows u to work short term independent jobs
Explanation:
I’m doing the question right now
According to rankings by many people over the years what is the number one expectation that people have a job they will enjoy
Answers
Answer:
The number one expectation is that the job uses people's abilities to the best, and makes them feel accomplished.
One possible explanation for this is Maslow's hierarchy of needs, in which the need of self-accomplishment is at the top, meaning that this is the need of the highest order.
If people feel that they are achieving self-accomplishment in their jobs, then, it is very likely that they enjoy it.
The additional Medicare tax on employees is ______.
A) not subject to employer withholding, but must be paid through quarterly estimated tax payments
B) subject to employer withholding, with any excess paid on the tax return when filed
C) fully paid through employer withholding
Answers
The additional Medicare tax on employees is b) subject to employer withholding, with any excess paid on the tax return when filed.
This tax applies to individuals with an annual income exceeding certain thresholds. Employers are responsible for withholding the additional 0.9% tax on wages, compensation, and self-employment income that exceed these limits. If an employer fails to withhold the correct amount, the employee may be required to pay the additional tax when filing their income tax return.
This ensures that the correct amount of additional Medicare tax is paid, and the employee is compliant with their tax obligations.
Therefore, the correct answer is b) subject to employer withholding, with any excess paid on the tax return when filed.
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You will have $ in 20 years if you set aside $2,000 at 8%. (Use the future value tables from Chapter 5.)
Answers
In 20 years you'll have $5,220.
2,000×0.08=160
2,000+(160×20)= 5,220.
The total interest will be $3200 (160X20) at an interest rate of 8%. You'll have $5,220 after 20 years.
What is the interest rate?The amount of interest due each period expressed as a percentage of the amount lent, saved, or borrowed is known as an interest rate (called the principal sum). The total interest on a loaned or borrowed sum is determined by the principal amount, the interest rate, the frequency of compounding, and the period of time the loan, deposit, or borrowing took place.
The rate calculated over a year is the annual interest rate. However, they are typically annualized. Various interest rates are applicable over shorter time frames, such as a day or a month.
A key tool of monetary policy, interest rate goals are taken into consideration when addressing issues like investment, inflation, and unemployment. When a nation wants to boost consumption and investment in the economy, its central bank typically lowers interest rates.
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Aldi wins customer orders by offering a high variety of options.
TrueFalse
Answers
False.
While Aldi does offer a range of products, its strategy is actually to offer a limited selection of high-quality items at affordable prices. This approach allows Aldi to keep costs low and pass on savings to the customer. Rather than relying on a wide variety of options, Aldi focuses on providing a carefully curated selection of essential items. This approach has proven successful, as many customers appreciate the convenience and affordability of shopping at Aldi. However, it is important to note that Aldi's success is not necessarily due to offering a high variety of options, but rather to its unique business model and value proposition.
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salespeople who are not successful in their first few telephone calls should
Answers
Salespeople who are not successful in their first few telephone calls should consider Reflecting and analyzing, Refining the pitch, and Improving product knowledge.
Think back on the prior calls and consider what went well and what didn't. Determine whether there are any trends or recurring problems that may have hampered achievement. Apply this analysis to future calls to improve and adjust.
Analyze the call script or salespeople's pitch that is being used. Is it interesting, succinct, and clear? To make the argument more persuasive and customer-focused, think about making changes. Emphasize the advantages and worth of the offered good or service.
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Renee operates a proprietorship selling collectibles over the web, and last year she purchased a building for $24 million for her business. This year, Renee’s proprietorship reported revenue of $85 million and incurred total expenses of $78. 1 million. Her expenses included cost of goods sold of $48. 5 million, sales commissions paid of $16. 9 million, $10. 5 million of interest paid on the building mortgage, and $12. 7 million of depreciation.
b. How much business interest expense can Renee deduct this year?
c. Suppose that Renee’s revenue includes $5 million of business interest income. What is the maximum amount of business interest expense that Renee can deduct this year?
Answers
Renee can deduct a maximum of $10.5 million as business interest expense this year, based on the interest paid on the building mortgage.
In Renee's case, the maximum amount of business interest expense that she can deduct this year is $10.5 million. This is because the interest paid on the building mortgage, which amounts to $10.5 million, is considered a deductible business expense. The deduction for business interest expense is subject to certain limitations introduced by the Tax Cuts and Jobs Act (TCJA) in 2017. Under the TCJA, the deduction for business interest expense is generally limited to 30% of the adjusted taxable income of the business. However, there is an exception for small businesses, like Renee's proprietorship, with average annual gross receipts of $26 million or less for the preceding three tax years. For such businesses, the limitation does not apply, allowing Renee to deduct the full amount of business interest expense up to the amount of interest paid on the building mortgage, which is $10.5 million in this case.
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acme home lending offers home equity loans up to 75 percent of the home value for its customers. if sally johnson has a home valued at $155,000 and a current mortgage of $46,500, how much can she borrow in a home equity loan from acme?
Answers
Sally Johnson can borrow up to $107,250 in a home equity loan from Acme Home Lending. This is calculated by taking 75% of her home's value ($155,000) and subtracting her current mortgage ($46,500), resulting in $107,250.
Acme Home Lending offers home equity loans of up to 75% of the home value for its customers. Home equity loans are loans taken out against the equity of the borrower’s home. Equity is the difference between the current value of the home and any outstanding mortgages on the property.
In Sally Johnson’s case, her home is valued at $155,000 and she has a current mortgage of $46,500. To calculate how much she can borrow from Acme Home Lending in a home equity loan, we take 75% of her home’s value and subtract her current mortgage. This results in $107,250. She is able to borrow up to this amount in a home equity loan.
It is important to note that, although Acme Home Lending offers home equity loans of up to 75% of the home value i.e., $107,250, this does not mean that Sally Johnson has to borrow the maximum amount. Home equity loans may be used for a variety of purposes, such as home renovations or debt consolidation, and the amount taken out can vary depending on the borrower’s financial needs and situation.
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Why are people engaged in business?? Write in points
(Note:Please don't give me silly answer)
Answers
Answer:
they are able to set their own hours and policies.
Establish prices.
Mall Critical decisions on how to operate the company.
Some people don't want to work for a boss. Others have an innovative mind or brilliant idea
People also engage in business to make a difference in the world.
Two benefits of self employment
Answers
Self-employment provides strong earning potential as people have more control over their own progression. Going hand-in-hand with the flexible lifestyle, individuals who work for themselves can go over and above to work long hours on some days, network, and reap the benefits of their hard work.
Eduardo is currently involved in FBLA (Future Business Leaders of America). He has dreams to work on Wall Street. Assuming he will continue down the same career path, which professional organization would Eduardo most likely be a part of in the future?
SAG
AFP
AASA
DECA
Answers
Eduardo will most likely be involved with the DECA.
The Distributive Education Clubs of America (DECA) or more commonly referred to simply as DECA, is a student empowerment organization that aims to help emerging leaders such as Eduardo in the areas of:
Finance Business Marketing Hospitality and othersThey are available in both colleges and high schools and have helped hundreds of thousands of students.
In conclusion, if Eduardo keeps going down the finance path, he might end up with DECA.
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Answer: the answer is DECA!
explanation: im taking the test in edunuity right now.
HOPE IT HELPS
As you move from left to right, the aggregate demand curve _____. slopes upward slopes downward may slope upward or downward
Answers
As you move from left to right, the aggregate demand curve slopes downward.
The aggregate demand curve shows the relationship between the overall level of economic activity and the overall price level in an economy.
When the economy is operating at a high level of economic activity, firms are producing and selling more goods and services, and consumers are buying more goods and services. As a result, the overall price level tends to be higher.
As the economy moves to the right along the aggregate demand curve, the overall level of economic activity decreases, and the overall price level tends to decrease as well.
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Nathan calculated his company’s economic order quantity and categorized all production costs. one cost was related to the cost of storing milk in the freezers, and another cost was related to the insurance expenses that covered the company’s inventory. to which cost category would nathan assign these costs? nathan would assign these costs to the section of the economic order quantity.
Answers
Nathan would classify them in the following categories of the economic order quantity based on the type of costs they are:
The annual holding cost per unit for milk storage.Insurance costs are a set fee each order.What sections will the above costs fall under?
Milk storage expenses would be included in the annual holding cost since this is where storage expenses are covered. Storage expenses must be taken into consideration because Economic Order Quantity tries to reduce them.Costs come in two flavors: fixed and variable. Although fixed and variable costs have different effects on the business, both are crucial to its profitability.Insurance costs are fixed expenses, thus they will be added to the fixed costs the business faces with each orderTo know more about cost here
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Nathan would arrange them in the accompanying classes of the economic order amount in light of the kind of costs they are:
The yearly holding cost per unit for milk capacity.Protection costs are a set expense each request.Milk capacity costs would be remembered for the yearly holding cost since this is where stockpiling costs are covered. Capacity costs should be thought about in light of the fact that Economic Order Quantity attempts to decrease them.
Costs come in two flavors: fixed and variable. Albeit fixed and variable expenses diversely affect the business, both are pivotal to its benefit.
Protection costs are fixed costs, subsequently they will be added to the decent costs the business faces with each request
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Use of a computer-based system to transfer money from the drawer's account to the payee's account is called a(n)
None of these
Automatic Withdrawal
Online Banking
Electronic Funds Transfer
Answers
Answer:
It's an electronic funds transfer.
Explanation:
Online banking would make no sense it would say a whole different story , automatic withdrawal would make no sense also , so therefore it is Electronic funds transfer
influences of Business environment,
Answers
Factors that Influence the business environment are :
Economic environmentSocial environmentTechnological environmentPolitical environmentLegal environment
The business environment means the total of all the individuals, and institutions that could affect the working of the business firm.
Importance of business environment:
Business environments help the firm to prepare itself for every possible obstruction or hindrance that can affect the functioning of the firm.It also helps the firm to adjust to frequent changes.The economic environment is all the things that create an economic impact on the firm.
The social environment is all the traditions and customs of the society that creates an impact on the firm.
The technological environment is all the impact on the firm caused due to new technology and upgradations.
The political environment is the conditions and behavior that the elected representatives hold toward the business
The legal environment is entirely based on the rules and legislation of the authorities.
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Mary is a stay-at-home mother whose husband died. She has two small
children to care for, and her husband was the primary wage earner for their
family. What Social Security benefits would care for Mary and her children?
A) retirement benefits
B) disability benefits
C) survivor’s benefits
D) worker’s compensation
Answers
Answer:
The answer that I think would be correct is option C (survivors benefits)
Explanation:
Retirement benefits definition: a form of social insurance payment made by the US Social Security (for age 62 and older) considering that Mary has two small kids, she probably isn't that old.
Disability benefits: in order to be eligible, you have to be unable to do regular or customary work for at least right days. Considering the fact that Mary is a stay at home mother then she wouldn't be employed.
Survivors benefit: this allows a retiree to ensure after death, a continuous lifetime annuity for their dependents.
Workers compensation: provision of benefits to employees who suffered work related injuries. Mary's husband most likely didn't die in the work place.
What of the following statements about LP sensitivity analysis is NOT true? A. The shadow price is also known as the dual value. B. Sensitivity information applies to simultaneous changes in several input data values. C. "Allowable Increase" values appear in both the Adjustable Cells section and the Constraints section of a sensitivity report D. Trial-and-error is a valid approach to undertaking sensitivity analysis.
Answers
"Allowable Increase" values appear in both the Adjustable Cells section and the Adjustable Cells section and the Constraints section of a sensitivity report statements about LP sensitivity analysis is NOT true. The answer is OPTION C.
SENSITIVITY ANALYSIS 2 IN LINEAR PROGRAMMING The phrase "sensitivity analysis," which is often referred to as a "post-optimality analysis," describes an examination of the impact that adjustments to the problem's parameters have on the existing optimal solution.
According to a certain set of assumptions, sensitivity analysis evaluates how various values of an independent variable impact a specific dependent variable. In other words, sensitivity studies look at how different types of uncertainty in a mathematical model affect the overall level of uncertainty in the model.
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T/F----Customers do not really care about how one looks as long as the job gets done.
Answers
False. While the quality of work is important, customers do care about how one looks and presents themselves while performing the job.
A professional appearance can instill confidence and trust in the customer, while an unkempt or unprofessional appearance can create a negative impression and lead to a lack of trust. This is especially true in industries where trust is essential, such as healthcare or financial services. Additionally, a clean and professional appearance can also be seen as a sign of respect for the customer and their property. It is important for individuals to take pride in their appearance and dress appropriately for their job, as it can impact not only the customer's perception but also the success of the business overall.
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c) Differentiate between Celebrity Advertising and Public Service Advertising.
Answers
Answer:
one has to do with advertising for a career and the other for the public and the well-being of others. also, celebrity advertising is for one person while public service advertising is for many.
Explanation:
someone help me. i have no clue oml
Answers
Answer:
Get a dice and roll it.
Explanation:
Explique la teoría del valor y de un ejemplo con algún bien o servicio de su uso cotidiano. (colombia)
Answers
Answer:
En economía, se habla de teorías del valor para indicar el conjunto de concepciones sobre la génesis y determinación del valor, como propiedad de las mercancías distinta del costo y lógicamente antecedente al precio, que constituye su manifestación fenomenal en esta perspectiva.
La economía política siempre ha tratado de responder a la pregunta: ¿de dónde viene el valor? Las respuestas fueron muy divergentes. Van desde la escasez de bienes disponibles, a su utilidad, a la necesidad de remunerar los factores productivos, incluido el capital y considerando su remuneración; - el beneficio - como recompensa por la abstinencia del capitalista, que puede permitirse renunciar al consumo para utilizar la propia riqueza de forma productiva, etc.
A car dealership performs a credit check on a potential customer. according to the credit bureau, the customer's credit score is 710. this is an example of
Answers
Answer:
Interval data
Explanation:
A credit bureau score is obtained when a company is about to give out a loan. It shows wether a person is likely to default on a loan based on historical borrowing behaviour.
When a score is between 580 to 669 means the scores are fair, 670 to 739 is a good score, while 740 to 799 is very good.
This way of scoring occurs in in a scale that occurs at equal intervals or units.
The scores are expressed as numerical value between points that are standardised and equal.
This is called interval data