Which of the Following Statements Is Correct

question 84

Multiple Choice

Which of the following statements is correct?

• A)An accurate measurement must be precise.
• B)"Precise measurement" means the same thing as "accurate measurement".
• C)A precise measurement is not necessarily accurate.
• D)A precise measurement must be accurate.

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Definitions:

Bullwhip Effect

The phenomenon in supply chains where small fluctuations in demand at the retail level cause progressively larger variations in demand at wholesale, distributor, and manufacturer levels.

Lot Sizes

The number of units of a product that are manufactured or acquired in a single production run or order, affecting both inventory levels and production cost.

Fluctuation

Variations or changes in level, value, or volume, often encountered in markets, demand, or supply conditions.

Pricing Obstacles

Challenges and barriers encountered in determining the ideal pricing strategy for a product or service, such as competition, cost, customer perception, and market conditions.