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Allan is a salesman at a local electronics store and works on commission. When customers come in, he does not leave their side until they walk out the door. He talks to them, shows them different equipment, and makes suggestions for accessories they might not have considered. Allan's behavior is best described as
Human Capital
The combined abilities, expertise, and non-physical resources of people that contribute to producing economic benefits for themselves, their places of work, or their local area.
Simulation
A blend of qualitative and quantitative modelling that incorporates a set of assumptions about relationships among variables in a mathematical algorithm. Simulation can simultaneously model demand and supply, and is very useful for testing the impact of assumptions on the outcome of the model.
Bottlenecks
Points in a process where the flow is impaired or stopped entirely, leading to delays and reduced efficiency.
Times Series Model
A statistical method that analyzes time series data to extract meaningful statistics and characteristics of the data.
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