Luis Runs a Bakery That Offers Only Takeaway Service

question 48

Multiple Choice

Luis runs a bakery that offers only takeaway service. His customers visit his residence and watch him prepare their order. They also get an opportunity to bring their cake designs and help Luis prepare the desired cake. As a result, he knows most of his customers well. The opportunity of _____ is highlighted in the given scenario.

• A) providing personal customer service
• B) having lower overhead costs
• C) using technology
• D) exploiting market niches

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Definitions:

Alternative Hypothesis

In hypothesis testing, the hypothesis that contradicts the null hypothesis, indicating there is an effect or a difference.

Test Statistic

An outcome obtained from samples in a hypothesis experiment, crucial in deciding if the null hypothesis should be dismissed.

P-value

Assuming the correctness of the null hypothesis, it is the possibility of obtaining test results that are equally or more extreme than those observed.

Sample Standard Deviation

A measure of the amount of variation or dispersion of a set of values in a sample.