The Small Average Transaction Size,high Theft Rate,and the Need to Constantly

question 71

Multiple Choice

The small average transaction size,high theft rate,and the need to constantly maintain vending machines contribute to which of the following characteristics of vending machines?

• A)the need for high gross profit margins on items sold
• B)the search for economies of scale
• C)the need to make vending machines that can be sold throughout the world
• D)the need to create vending machines that can be programmed

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Definitions:

Proportions

Fractions or percentages that represent part of a whole or a ratio of one quantity to another.

Proportions

Ratios that compare the part of a whole to the whole itself, often expressed in terms of a fraction or percentage.

Chi-squared Goodness-of-fit Test

A statistical test used to determine whether observed frequencies differ significantly from expected frequencies specified by a theoretical distribution.

Rule of Five

An empirical rule suggesting that extreme observations in data, more than five standard deviations from the mean, are rare.