Operations Management Is Applicable

question 103

Multiple Choice

Operations management is applicable:

• A) mostly to the service sector.
• B) to services exclusively.
• C) mostly to the manufacturing sector.
• D) to all firms, whether manufacturing or service.
• E) to the manufacturing sector exclusively.

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Definitions:

Binomial Probability Experiment

An experiment or process that has exactly two possible outcomes (success or failure) for each trial and where the probability of success is the same for each trial.

Probability

The measure of the likelihood that an event will occur, quantified between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Standard Normal Distribution

A standard normal distribution characterized by a mean of 0 and a standard deviation of 1.

Values of Z

Refers to the scores derived from a standard normal distribution used in statistical analysis to determine probabilities.