Examlex
The "lean" ideal regarding inventory is to have just enough inventory to keep operations running smoothly and meet customer needs.
Exponential Distribution
A probability distribution used to model the time between events in a Poisson process, describing events that occur continuously and independently.
Waiting Time
The duration of time a person or item spends waiting before a service begins or an event happens.
Degrees of Freedom
The quantity of distinct values or measures that can be attributed to a statistical distribution.
Area
A measure of the extent of a surface or a region, usually expressed in square units.
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