Which Type of Theory Makes Use of "Correlations" and "Probabilities

question 30

Multiple Choice

Which type of theory makes use of "correlations" and "probabilities"?

• A) Predictive theory.
• B) Postmodern theory.
• C) Normative theory.
• D) Explanatory theory.

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Definitions:

SCM

Supply Chain Management encompasses monitoring and managing the flow of materials, information, and finances as they transition from suppliers to manufacturers, wholesalers, retailers, and then to the end consumer.

Production

The process of creating, manufacturing, or assembling products or services, often involving raw materials and component parts.

SCM

Managing the supply chain involves guiding the journey of materials, financial resources, and information from their source with suppliers to their ultimate destination with consumers, passing through various stages including manufacturing and retailing.

Metric-intensive

Metric-intensive describes activities or processes that heavily rely on the use of metrics, measurements, and data analysis for decision-making, performance assessment, or optimization.