When Customer Demand Is Known, the Resulting Inventory Model Is

question 19

Multiple Choice

When customer demand is known, the resulting inventory model is called:

• A)normal
• B)uniform
• C)deterministic
• D)probabilistic

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Definitions:

Elastic Demand

A situation in which the demand for a product is sensitive to price changes.

Indirect Discrimination Scheme

Policies or practices that appear neutral but disproportionately impact a specific group in a negative way.

Direct Discrimination Scheme

Practices or policies that intentionally treat individuals unfavorably because of protected characteristics like race, age, or gender.

Advance-Purchase Discounts

Reductions in price offered to customers who pay for goods or services before they are received or required.