Increasing the Number of Levels of the Independent Variable Is

question 12

Multiple Choice

Increasing the number of levels of the independent variable is to _____ replication as changing the type of dependent measure is to _____ replication.

• A)exact; conceptual
• B)conceptual; exact
• C)systematic; exact
• D)systematic; conceptual

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Definitions:

Lead Time

The timeframe between the initiation and completion of a process, such as from placing an order to its delivery.

Re-Order Point

The inventory level at which an order should be placed to replenish stock before it runs out, based on lead time and consumption rate.

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices at a given time.

Optimal Order Size

The quantity that minimizes the total cost of inventory, including holding and ordering costs.