Restaurants Don't Use Market Price to Allocate Their Tables Because

question 13

Multiple Choice

Restaurants don't use market price to allocate their tables because

• A)they would have to watch the price of a table at other restaurants to keep competitive.
• B)restaurants would have to advertise the price.
• C)the price of a table would fluctuate hourly,customer uncertainty would deter patrons,and lower demand would bring lower profit.
• D)they would have to continually change the supply of tables to keep the price constant.
• E)the price of a table would eventually fall to zero and restaurants would incur a loss.

---

Definitions:

Quality

The degree to which a product, service, or process is free from defects, deficiencies, and significant variations, measured against agreed standards or specifications.

Degree of Freedom

In statistics, it refers to the number of values in the final calculation of a statistic that are free to vary.

Group Means

The average values obtained from the data points of each group or category under examination in a study.

Statistical Significance

Indicating that the observed results are unlikely to occur by chance alone, according to a predetermined threshold of probability.