For Location Decisions,in Contrast to Service Companies Manufacturing Firms Generally

question 27

Multiple Choice

For location decisions,in contrast to service companies manufacturing firms generally look for ______.

• A)revenues
• B)cost minimization
• C)volumes sold
• D)traffic volumes and patterns

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Definitions:

Median

The middle value in a data set when it is arranged in ascending order, or the average of the two middle values if there is an even number of observations.

Negatively Skewed Curve

A set of test scores where the majority fall at the upper or positive end. It is said to be a negatively skewed curve or distribution because a few “negative” or low-end scores have stretched or skewed the curve to the left.

Median

A statistical measure representing the middle value in a sorted list of numbers, effectively dividing the data set into two halves.

Mode

A measure of central tendency that is the score that occurs more often than any other.