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Explain the Relationship Between Custom, Option, and Standard Goods and Services

question 10

Essay

Explain the relationship between custom, option, and standard goods and services as they relate to project, job shop, flow shop, and continuous flow processes.


Definitions:

P(A|B)

The probability of event A occurring given that event B has already occurred.

Probability

A quantification of the probability that an event will happen, represented as a numerical value ranging from 0 to 1.

Subscriber Owns

Refers to the assets or services a subscriber has purchased and currently possesses.

Probability

A measure of the likelihood or chance of an event occurring; a value between 0 and 1.

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