Ten Visitors to an Art Gallery Are Asked to Rate

question 19

Multiple Choice

Ten visitors to an art gallery are asked to rate two sculptures for aesthetic value on a scale of 1(low value) to 5 (high value) .The results are as follows. What conclusion would be drawn? Test Statistics(b)

Based on positive ranks.

• A) There is a significant difference in ratings, with the Henry Moore piece being rated higher than the Michelangelo piece.
• B) There is no significant difference in ratings.
• C) There is a significant difference in ratings, with the Henry Moore piece being rated lower than the Michelangelo piece.
• D) Not enough information.

Understand the role of integration strategies such as backward and forward integration in supply-chain management.

Grasp the importance of inventory management and the impact of the supply chain on a firm's cost strategy.

Recognize the relevance of supply-chain management in service firms and the implications for outsourcing and offshoring.

Appreciate the ethical considerations and challenges in supply-chain management, particularly in a global context.

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Definitions:

Divergent Thinking

A mental approach or technique for producing innovative ideas through the examination of numerous potential answers.

Convergent

Thinking that involves bringing several pieces of information together to solve a problem or come to a single, correct answer.

Heuristic

A problem-solving approach that employs a practical method or various shortcuts to produce solutions that may not be perfect but are sufficient for the immediate goals.

Decisive

Having the power or quality of settling an issue or producing a definite result.