Examlex
If the nature of the customer population, constraints on the line, the priority rule, and the service time distribution renders waiting line theory no longer useful, then an operations manager should rely on:
GDP Deflator
The GDP deflator is a measure of the level of prices of all new, domestically produced, final goods and services in an economy, used to convert nominal GDP into real GDP.
Basket of Goods
A basket of goods is a fixed set of consumer products and services valued on a regular basis for calculating inflation or cost of living adjustments.
Teddy Bears
Soft, stuffed toys resembling bears, often used for comfort and play by children.
Consumer Price Index
An evaluative measure that calculates the weighted mean cost of a range of consumer services and goods, from food to medical care and transportation.
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