Sandy Has Very Little Authority When Taking Decisive Action

question 53

Multiple Choice

Sandy has very little authority when taking decisive action.She must consult with her supervisors on most decisions.This is an example of which type of authority?

• A)Class 1
• B)responsibility
• C)Class 3
• D)accountability

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Definitions:

Holding Cost

The expenses associated with keeping inventory in storage, including warehousing costs, insurance, depreciation, and potential obsolescence.

Standard Deviation

Standard deviation measures the amount of variation or dispersion of a set of values, indicating how much they deviate from the average.

Safety Inventories

Stocks of products or materials kept on hand to protect against uncertainties in supply or demand.

Annual Holding Cost

The total cost incurred by holding inventory over a year, including storage, insurance, and opportunity costs.