Research That Collects Data at a Single Point in Time

question 9

Multiple Choice

Research that collects data at a single point in time is called:

• A) Descriptive
• B) Cross-sectional
• C) Explanatory
• D) Longitudinal
• E) Cohort design

Understand the concept of dependent and independent demand in inventory management.

Knowledge of various MRP (Material Requirements Planning) lot-sizing techniques, including the Wagner-Whitin algorithm.

Understand the role of smoothing in resource requirement profiles and its impact on costs.

Comprehend the principles and application of DRP (Distribution Requirements Planning) in a distribution network.

---

Definitions:

S And D Curves

Supply and Demand curves; graphical representations of the relationship between the quantities of goods and services that producers are willing to sell and consumers are willing to buy at various prices.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, due to higher market prices.

Equilibrium Point

The point at which market supply and demand balance each other, and as a result, prices become stable.

S And D Curves

Stand for Supply and Demand curves, graphical representations in economics that illustrate the relationship between the quantity of goods available for sale and the quantity of goods that consumers are willing and able to buy at various prices.