What Are the Two Major Decisions to Be Made When

question 129

Multiple Choice

What are the two major decisions to be made when using the periodic review system?

• A) the time between orders and the target inventory level
• B) the time between orders and the on-hand inventory
• C) the target inventory level and the on-hand inventory
• D) the time between orders and the order quantity
• E) the target inventory level and the order quantity

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Definitions:

Discipline Principle

A concept in management that emphasizes the importance of enforcing rules and maintaining order within an organization.

Alternative Hypotheses

Hypotheses that suggest there is a statistically significant difference between groups or variables, as opposed to the null hypothesis.

Null Hypothesis

A default hypothesis that assumes no significant difference or effect between groups or variables in a statistical test.

Hypothesis Testing

A method in statistics to decide whether to accept or reject a hypothesis based on sample data, to determine the likelihood that a parameter related to the population is true.