Estimating Capacity Needs (Goods/services to Provide)for a Service Business Is

question 95

Multiple Choice

Estimating capacity needs (goods/services to provide) for a service business is more difficult than for a manufacturer because:

• A)customers arrive at service companies at staggered times.
• B)customers require various levels of service.
• C)service providers cannot store their services for later use.
• D)weather and other factors affect the demand for services.

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Definitions:

Dependent Variable

In an experiment, the dependent variable is the variable that is being tested and measured, and is 'dependent' on the independent variable.

Residual

The difference between the observed value and the estimated value of the quantity of interest.

Correlation Coefficient

Quantitative assessment designed to determine the magnitude and directionality of a linear association between two variables.

Regression Analysis

A statistical method for estimating the relationships among variables, particularly the relationship between a dependent variable and one or more independent variables.