In Determining the Number of Facility Locations,the Lowest Total Cost

question 32

Multiple Choice

In determining the number of facility locations,the lowest total cost is typically:

• A)Not the lowest cost of either transportation or inventory.
• B)The lowest cost of either transportation or inventory.
• C)Not related to transportation or inventory.
• D)Difficult to generalize.

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Definitions:

Probability

The chance of an event happening, represented numerically from 0 to 1.

Establishing Probability

The process of determining the likelihood that a given proposition or hypothesis is true.

Method Of Equal Alternatives

A method of determining the probability of an event by finding the ratio of favorable outcomes to the total number of possible outcomes.

Equal Alternatives

Choices or options that have the same value or importance.