For a Mark-Recapture Survey, the Ratio of the Number of Marked

question 28

Multiple Choice

For a mark-recapture survey, the ratio of the number of marked individuals to the total population is equal to the ratio of the

• A) number of marked individuals recaptured to the total number of individuals in the second capture.
• B) total number of individuals in the second capture to the number of marked individuals recaptured.
• C) total number of individuals in the first capture to the number of marked individuals recaptured.
• D) number of individuals in the second capture to the number of individuals marked in the first capture.

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Definitions:

Safety Stock

Extra inventory kept on hand to protect against stockouts caused by variations in supply and demand.

Service Level

A measure of the quality of service provided to customers, often quantified as the percentage of customer demands met on time.

Lead Time

The total time it takes to complete a process from start to finish, often measured from the initiation to the delivery of a product or service.

Optimal Order Size

The ideal quantity of inventory to order that minimizes the total costs associated with ordering, carrying, and stockouts.