Examlex
Management at Readyfresh Dry Cleaners is concerned that it maintains a high level of service for its business accounts. How should the firm monitor the level of service these customers receive?
Significance Test
A statistical procedure used to test if the observed results significantly differ from what was expected under the null hypothesis.
T Test Statistic
A value used in hypothesis testing, calculated from sample data, to assess the compatibility of the sample with a null hypothesis concerning the mean.
Random Sample
A sample drawn from a population in a way that gives each individual an equal chance of being selected, used to achieve representativeness.
Service Time
The period required to complete a process or fulfill a request.
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