If a Customer Expects to Wait Three Hours for an Auto

question 33

Multiple Choice

If a customer expects to wait three hours for an auto repair but the repair is finished just one hour later,the customer's evaluation of service quality will be high.However,a two day wait would result in a lower evaluation.The two day wait would illustrate a gap between:

• A) service quality specifications and the service that is actually provided.
• B) the service customers receive and the service they want.
• C) what the company provides and what the customer is told it provides.
• D) what customers want and what management thinks customers want.
• E) what management thinks customers want and the quality specifications management develops to provide it.

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Definitions:

Risky Portfolio

An investment portfolio that contains assets with a higher degree of volatility and potential for loss, aiming for higher returns.

Standard Deviation

A statistical measure that quantifies the variation or dispersion of a set of data points.

Sharpe Ratio

A measure that indicates the average return earned in excess of the risk-free rate per unit of volatility or total risk, assessing the performance of an investment.

Risk Aversion

The preference to avoid uncertainty and potential financial loss.