________ Allows a Firm to Increase Profits and Better Match

question 1

Multiple Choice

________ allows a firm to increase profits and better match supply and demand if the firm produces a large variety of products whose demand is unpredictable,not positively correlated,and is of about the same size.

• A)Shortened forecasting window
• B)Quick response
• C)Postponement
• D)Tailored sourcing

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Definitions:

Correlation Coefficient

A numerical index that ranges from -1.0 to 1.0 and reflects the extent to which two variables are linearly related.

Scatter Plot

A diagram that shows the relationship between two variables by displaying points on a two-dimensional plot. Usually the two variables are denoted x and y, each point represents a pair of scores, and the x variable is plotted on the horizontal axis while the y variable is plotted on the vertical axis.

Upward Slope

A term that can be used metaphorically to describe a situation or trend that is improving or increasing over time.

Replication

Doing a study again to see if the results hold up. Replications are especially persuasive when done by different researchers in different labs than the original study.