It Usually Takes Less Time to Buy a Six-Pack of 7-Up,a

question 71

Multiple Choice

It usually takes less time to buy a six-pack of 7-Up,a loaf of bread,and a half-gallon of ice cream at a small convenience store (such as a 7-Eleven) than at a large,full-service grocery store.Which of the following persons is most likely to buy these items at a convenience store?

• A) a person with high opportunity cost of time
• B) a person with low opportunity cost of time
• C) a person who is out of work
• D) There is not enough information to answer the question.

---

Definitions:

Process Capability Index

A statistical measure of a process's ability to produce output within specified limits, reflecting the process's performance and capability.

Specifications

Specifications are detailed descriptions and criteria given for materials, products, or processes to ensure quality, performance, and compliance with standards.

Process Capability Index

A statistical measure that assesses the ability of a process to produce output within specified limits.

Specification Limits

The defined range of acceptable values for a product’s dimensions, performance, or other measurable quality.