Examlex
The service-profit chain consists of all activities involved in the direct link between an organization's service providers and their employees.
Classical Approach
A method or theory in economics and political philosophy centered around free markets, competition, and limited government intervention.
Relative Frequency Approach
A method of estimating probabilities based on the proportion of observed occurrences of an event relative to the total number of trials.
Subjective Approach
A method of decision making or analysis that is based on personal judgment, opinions, or preferences rather than objective data.
Simple Event
An event consisting of only one outcome in a probability experiment.
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