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Material Requirements Planning (MRP)is Useful for Managing and Scheduling Discrete

question 47

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Material requirements planning (MRP)is useful for managing and scheduling discrete demand items.


Definitions:

Probability

An evaluation of the chance an event has to take place, using a scale from 0 to 1.

Probability Distribution

A mathematical function that describes the likelihood of obtaining the possible values that a random variable can assume.

Owns More Than One

Refers to an individual or entity possessing more than one of something, suggesting multiple ownerships.

Union of Events

In probability, the set of outcomes that belong to at least one of several events.

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