If an Event Is Likely to Occur, Which Probability Is

question 72

Multiple Choice

If an event is likely to occur, which probability is a reasonable estimate?

• A)0.32
• B)0.79
• C)1
• D)Not enough information to determine.

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Definitions:

Kanban Size

The specific quantity of work components or tasks represented by a Kanban card, used in the Kanban system to control the flow through the production system.

Setup Cost

The expense incurred to prepare equipment, machinery, or a production facility for a manufacturing run or a project.

Carrying Cost

The total cost of holding inventory, including storage, insurance, depreciation, and opportunity costs.

Safety Stock

The additional quantity of inventory kept on hand to prevent stockouts caused by variability in demand or supply chain disruptions.