A Global Supply Chain Is a System of Moving Products

question 5

True/False

A global supply chain is a system of moving products or services from supplier to consumers by outsourcing part of the supply system to resources from other countries.

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Definitions:

Binomial Distribution

a probability distribution describing the number of successes in a fixed number of independent Bernoulli trials, with a constant probability of success.

Bernoulli Experiment

A random experiment with exactly two possible outcomes, often termed success and failure.

Probability Density Function

A Probability Density Function (PDF) is a function that describes the relative likelihood for a continuous random variable to take on a given value.

Expected Value

A statistical measure that calculates the average outcome of a random variable after many repetitions of an experiment.