Brian Vanecek, VP of Operations at Portland Trust Bank, Is

question 75

Multiple Choice

Brian Vanecek, VP of Operations at Portland Trust Bank, is evaluating the service level provided to walk-in customers.Accordingly, his staff recorded the waiting times for 45 randomly selected walk-in customers, and calculated that their mean waiting time was 15 minutes.If Brian concludes that the average waiting time for all walk-in customers is 15 minutes, he is using a ________.

• A)a range estimate
• B)a statistical parameter
• C)an interval estimate
• D)a point estimate
• E)an exact estimate

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Definitions:

Fulfillment Processes

The steps involved in completing an order or service request successfully, from the point of sale to delivery to the customer.

Warehouse

A large building where raw materials or manufactured goods may be stored before their distribution for sale.

Supplier Processes

The procedures and activities undertaken by suppliers to deliver products or services to their customers, including production, quality control, and distribution.

Cost Reduction

The process of cutting expenses to improve profitability without compromising the quality of products or services.