If a Coin Is Tossed Three Times, the Likelihood of Obtaining

question 31

Multiple Choice

If a coin is tossed three times, the likelihood of obtaining three heads in a row is

• A)zero
• B)0.500
• C)0.875
• D)0.125

---

Definitions:

Inventory Requirements

The specific amount of stock needed to meet customer demand while minimizing holding costs.

Continuous Review

An inventory management approach where stock levels are constantly monitored and replenished in real-time, often automated.

Lead Time

is the total time required to manufacture an order and deliver it to the customer, encompassing all phases from order placement to final delivery.

Demand Forecasts

Predictions about future customer demand for a product or service, based on historical data, market trends, and other influencing factors.