Given Below Is the Scatter Plot of the Number of Employees

question 94

True/False

Given below is the scatter plot of the number of employees and the total revenue
($millions) of 20 U.S. companies. There appears to be a positive relationship between total
revenue and the number of employees.

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Definitions:

Work Cells

An arrangement of resources in a manufacturing environment to improve efficiency by having all necessary equipment and materials in close proximity.

JIT Partnerships

Collaborative relationships between suppliers and companies to ensure just-in-time delivery of inventory, reducing waste and improving efficiency.

Small Lot Sizes

The production strategy that involves manufacturing smaller quantities of items to reduce inventory levels and respond quickly to customer demands.

Diversification

Diversification is a risk management strategy that involves spreading investments across various financial instruments, industries, or other categories to minimize risk.