The Primary Objective of Managing Waiting Lines Is ______

question 22

Multiple Choice

The primary objective of managing waiting lines is ______.

• A)to maximize customer satisfaction
• B)to minimize their total costs throughout any service or manufacturing facility
• C)to make people who are waiting feel that they are not really waiting for a long time
• D)to maximize throughput

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Definitions:

Compound Interest

Interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan.

Simple Interest

Interest calculated on the principal portion of a loan or deposit, without compounding on the interest previously earned.

Original Principal

The initial amount of money borrowed or invested, before the addition of interest or profits.

Compounded Annually

A method of calculating interest where the interest rate is applied once per year to the principal, including any interest from previous periods.