lot
Definition 1
Defined quantity of a thing used as a unit of inventory, output, sale, sampling, or transportation. Items in a lot are of a single class, composition, model, size, type, or version, are produced under essentially the same conditions, and are intended to have uniform quality and characteristics within specified limits. A lot is ordered, sold, released, or delivered in its entirety. An exact lot is called a round lot, any quantity more or less than a lot is called an odd lot. Also called batch.
Definition 2
Measured tract of land with specific boundaries, distinctly designated on a map, plot, or survey, and forming a part of a community, city, or district.
lot is in the Accounting & Auditing, Advertising, Marketing, & Sales, Purchasing & Procurement and Real Estate & Buildings subjects.
lot appears in the definitions of the following terms:
decision theory,
setup,
price discrimination,
discrete lot size,
American National Standards Institute (ANSI),
sampling,
operating characteristics (OC) curve,
offsite improvements,
legal address,
probability of acceptance
and
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