Estimating Capacity Needs (Goods/services to Provide)for a Service Business Is

question 95

Multiple Choice

Estimating capacity needs (goods/services to provide) for a service business is more difficult than for a manufacturer because:

• A)customers arrive at service companies at staggered times.
• B)customers require various levels of service.
• C)service providers cannot store their services for later use.
• D)weather and other factors affect the demand for services.

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Definitions:

Independence

A condition in which two or more variables are not related, meaning the behavior or value of one variable does not affect the other.

Estimated Parameters

Quantitative values derived from sample data that serve as best guesses for the parameters of the population from which the sample was drawn.

Multinomial Population

A population in statistical analysis where each member can belong to one of several or many different categories.

Classes or Categories

Distinct groups or divisions within a dataset or population, used to organize, analyze, or classify information.