Discuss How You Can Discover Whether or Not a Value

question 21

Essay

Discuss how you can discover whether or not a value (number of customers served in a restaurant)follows a statistical distribution.

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Definitions:

Design

This involves creating a plan or convention for the construction of an object, system, or measurable human interaction, taking into account aesthetic, functional, and many other considerations.

Non-Value-Added Activities

Non-value-added activities are processes or endeavors that do not contribute to the customer's perceived value of a product or service, often targeted for elimination in efficiency efforts.

Time Drivers

Factors that measure the amount of time required to perform an activity, often used to allocate costs in various accounting methods.

Inventory Management

The administration of overseeing the ordering, storing, and using a company's inventory.