Advances in Computerized Systems, Technological Innovation, Global Competition, and Automation

question 45

Multiple Choice

Advances in computerized systems, technological innovation, global competition, and automation have changed the manufacturing environment drastically by

• A) increasing direct labor costs and increasing overhead costs.
• B) increasing direct labor costs and decreasing overhead costs.
• C) decreasing direct labor costs and decreasing overhead costs.
• D) decreasing direct labor costs and increasing overhead costs.

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Definitions:

Standard Deviation

A statistic that measures the dispersion or variability of a set of data values around the mean (average) of those values.

Expected Profit

The forecasted amount of profit that a business or investment is projected to earn over a specific period.

Japanese Yen

The official currency of Japan, often represented by the symbol ¥.

Risk Averse

A risk-averse individual prefers certainty over uncertainty and would opt for a guaranteed outcome over a gamble with potentially higher, yet uncertain, rewards.