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When deciding how much inventory to keep, some firms and managers sometimes rely on the practice of guesstimation
Perceptual Constancy
is the psychological phenomenon in which the perception of an object remains unchanged despite changes in the sensory input, such as lighting, distance, or angle.
Angle
A figure formed by two rays, called the sides of the angle, sharing a common endpoint, known as the vertex of the angle.
Size Constancy
A perceptual phenomenon where the perceived size of an object remains constant despite changes in the distance from which it is viewed, due to mental adjustments of its size.
Perceived Size
The subjective interpretation of an object's dimensions, which can be influenced by context, background, and comparison to other objects.
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