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Which poses the greatest underlying managerial challenges - a service that is extremely high on customization, contact, and tangibility or perchance a service that is extremely low on contact, customization and tangibility? Provide an example of a service that fits each space and defend your answer.
Probability Calculus
A branch of mathematics dealing with calculating the likelihood of various outcomes in uncertain situations.
Complex Event Probabilities
The calculation of the likelihood of outcomes that involve two or more independent events occurring.
Intuitive Judgment
A decision-making process that relies on immediate, gut reactions rather than deliberate, logical analysis.
Ivy League College
A prestigious group of eight private universities in the northeastern United States known for their rigorous academic programs and selective admissions.
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