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Daniel is interested in studying how children's behaviour changes when they grow up in high-risk environments.He enlists 500 children and their parents to take part in his research,and observes these children once a year for 20 years.Although this research is time-consuming and expensive,it gives very good information about how the children age over time.This type of research is an example of a __________ study.
Graphical Plot
A visual representation of data points on a coordinate system, used to observe relationships or patterns within the data.
Economies of Scale
Refers to the cost advantage achieved when production becomes efficient, as the scale of the output expands, typically resulting in a reduction in average cost per unit through increased production efficiency.
Cycle Inventory
Inventory that turns over regularly in the course of business operations, representing the portion of inventory intended to meet normal demand.
Supply Chain
The network between a company and its suppliers to produce and distribute a specific product to the final buyer.
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