The Three Major Considerations for Deciding the Location of Production

question 38

True/False

The three major considerations for deciding the location of production facilities for products are: does the product serve the needs of all customers around the world,proximity to market and proximity to suppliers,and the effect on product's image being produced in that location.

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Definitions:

Null Hypothesis

A hypothesis in statistical testing that there is no effect or no difference, and any observed deviation is due to sampling or experimental error.

Significance Level

A threshold below which a p-value is considered statistically significant, indicating that observed results are unlikely to be due to chance.

Critical Value

The point or points on the scale of a test statistic beyond which we reject the null hypothesis; these values define the threshold of significance.

Test Statistic

A value, derived from sample data, used in a hypothesis test to determine whether to reject the null hypothesis.