Examlex
The time it takes to completely tune an engine of an automobile follows an exponential distribution with a mean of 40 minutes.
a.What is the probability of tuning an engine in 30 minutes or less?
b.What is the probability of tuning an engine between 30 and 35 minutes?
Intangibility
A characteristic of services indicating that they cannot be seen, touched, or made tangible in the same manner as physical products.
Standards Gap
A type of service gap; pertains to the difference between the firm’s perceptions of customers’ expectations and the service standards it sets.
Service Gaps Model
A framework for identifying and analyzing the discrepancies between customers' expectations of a service and their actual experiences, aiming to improve service quality.
Service Providers
Companies or individuals that offer services to others in exchange for payment.
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