A Statistically Significant Difference in Simulation Results,when Acted Upon by the Operations

question 13

True/False

A statistically significant difference in simulation results,when acted upon by the operations manager,will result in significant process improvements in the eyes of the customer or company or both.

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Definitions:

Efficient

The state of achieving a maximum output from given resources, with minimal waste or inefficiency.

Normative Statement

Prescriptive assertions that express judgments about whether a situation is desirable or undesirable, reflecting values rather than facts.

Positive Statement

A factual claim about how the world actually works, verifiable by observation or experience.

Production Possibilities Frontier

An illustration representing the peak production capabilities for two different items, utilizing a specific combination of resources and factors.