Since Its Objective Is to Minimize Inventory Investment, a Just-In-Time

question 160

True/False

Since its objective is to minimize inventory investment, a Just-in-Time (JIT) system uses no, or very little, safety stocks.

---

Definitions:

Rho

In statistics, a measure of correlation (denoted as ρ) indicating the strength and direction of a linear relationship between two variables.

Degrees of Freedom

Refers to the number of scores in a calculation that are free to vary when estimating a parameter.

Calculating

The action of performing mathematical operations to determine a result.

Significant Correlations

Relationships between variables that are strong enough to unlikely be due to chance, as determined by statistical tests.