Malcolm Lewis Has Come Up with the Idea of a System

question 236

Multiple Choice

Malcolm Lewis has come up with the idea of a system for picking up people's cars while they are at work, washing and waxing them, and returning them for a fee. Having been a big success in his home city, Malcolm plans to expand his operation into other cities. The service described here seems best suited to

• A) party-plan retailing.
• B) franchising.
• C) vending.
• D) corporate chain retailing.
• E) off-price retailing.

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Definitions:

Regression Analysis

A statistical method used to examine the relationship between a dependent variable and one or more independent variables.

Quantitative Forecasting

A method of predicting future events, demands, or trends based on numerical data and statistical analysis.

Firm's Strategy

The detailed plan of actions and decisions a company undertakes to achieve its long-term goals and maintain competitive advantage.

Human Resources

The sector within a company or organization responsible for managing recruitment, administrative tasks, and staff training.