Which of the Following Questions Which Companies Consider Is Best

question 17

Multiple Choice

Which of the following questions which companies consider is best aligned with the production orientation philosophy?

• A)What are the product preferences of our customers?
• B)How can we sell our products more aggressively?
• C)What can our engineers design?
• D)How can we gather more information about customer needs?

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Definitions:

Monte Carlo Analysis

A statistical technique that utilizes random sampling and variability to calculate risks and predict outcomes in a wide range of applications.

Computerized Model

A digital simulation that uses computer algorithms and programming to replicate the behavior or performance of a physical, financial, or biological system.

Monte Carlo Analysis

A statistical technique that uses random sampling and numerical experiments to estimate mathematical functions and simulate the behavior of complex systems.

Cumulative Probability Distribution

The accumulation of individual probabilities of a distribution.