Which of the Following Is a Characteristic of a Service

question 3

Multiple Choice

Which of the following is a characteristic of a service (i.e.,not a product or good) ?

• A)usually labor intensive
• B)involves the transformation of raw materials
• C)easy to track and monitor quality
• D)can be easily stored for future use

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Definitions:

Residual Variance

The variance in observations not explained by the independent variables in a regression model, representing the unpredicted part of a dependent variable.

Two-way ANOVA

This test analyzes how two categorical variables affect a continuous target variable.

Interaction

In statistics, it refers to a situation where the effect of one variable on an outcome is changed by the level of another variable.

Null Hypotheses

The hypothesis that there is no effect or no difference, and any observed difference is due to sampling or experimental error.