The Strategy Where the Production Rate Is Synchronized with the Demand

question 50

Multiple Choice

The strategy where the production rate is synchronized with the demand rate by varying machine capacity or hiring and laying off employees as the demand rate varies is the

• A)adjustable strategy.
• B)chase strategy.
• C)level strategy.
• D)mixed strategy.

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Definitions:

Point Estimate

A solitary figure or statistical measure employed to approximate the worth of a population parameter.

Confidence Interval

A portfolio of values, extracted from sampling efforts, believed to encapsulate the undiscovered value of a population attribute.

Normal Distribution

A balanced probability distribution around the mean, demonstrating that occurrences are more frequent near the mean than away from it.

Margin of Error

An indicator of the precision of an estimate in statistics, showing the range within which the true value is expected to lie with a certain level of confidence.