THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 165

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The Quality Assurance Department of a large restaurant is attempting to monitor and evaluate customer satisfaction with restaurant services.Prior to their departure,a random sample of customers is asked to fill out a short questionnaire to rate such services as quality of food,price,waiting time to be served,and cleanliness of the place.The Quality Assurance Department prepares weekly reports that are used to improve the services.
-In this restaurant services study,the process of using sample information for predictions,forecasts,and estimates is called:

• A)inferential statistics.
• B)descriptive statistics.
• C)statistical survey.
• D)process.

---

Definitions:

Variable Cost

Costs that vary in proportion to the volume of goods or services produced, such as materials and labor.

Fixed Costs

Definition: Business expenses that remain the same regardless of the level of production or sales.

Break-Even Point

The moment when the sum of all expenses matches the sum of all income, resulting in neither a profit nor a loss.

Revenue

The total income generated from the sale of goods or services related to a company's primary operations.