Which of the Following Is an Example of a Finite

question 135

Multiple Choice

Which of the following is an example of a finite arrival population?

• A) copy machines in a copying shop that break down
• B) students at a large university registering for classes
• C) shoppers arriving at a supermarket
• D) cars arriving at a suburban car wash
• E) customers arriving at a coffee shop

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Definitions:

Operations

Activities involved in the day-to-day functions of a business that are necessary for it to run efficiently and effectively.

EOQ

Economic Order Quantity, the ideal order quantity a company should purchase to minimize its inventory costs, including holding and ordering costs.

Fixed Ordering Costs

The consistent costs associated with placing an order for goods or services, regardless of the order size.

Carrying Cost

Carrying cost represents the total cost of holding inventory, including storage costs, insurance, depreciation, and opportunity costs among others.