Results That Are Not Attributable to Chance Are Referred to as ______________

question 10

Multiple Choice

Results that are not attributable to chance are referred to as ______________.

• A) non chance fluctuations
• B) skewed
• C) statistically significant
• D) variant

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Definitions:

Opportunity Cost

The expense associated with foregoing the next most favorable option when a choice is made.

Restrictive Policy

Policies or conditions imposed by lending institutions or governments that limit certain activities or operations to reduce risk.

Just-in-time

A production strategy that aims to reduce in-process inventory and associated carrying costs by producing goods only as they are needed in the production process.

Carrying Costs

Expenses associated with holding inventory, including storage, insurance, and spoilage costs.