Probability Is Calculated by Dividing the Number of Successes by the Number

question 90

True/False

Probability is calculated by dividing the number of successes by the number of trials.

---

Definitions:

Timeliness of Delivery

The measure of how quickly and within the scheduled timeframe goods or services are delivered to the customer.

Incremental Costs

The additional costs that are incurred if the level of business activity or output changes.

Out-of-Pocket Costs

Out-of-pocket costs are expenses that individuals directly pay from their funds, not covered by third-party payers like insurance.

Incremental Revenue

Additional revenue generated from a specific action or decision, beyond what would have been generated otherwise.