Using Table 12-6, what is the average number of customers waiting in line?
A) 0.0833
B) 0.5
C) 0.75
D) 1.33
E) 2
A
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For which of the following products would the intensive distribution strategy most likely be used?
A) high-end cameras B) luxury cars C) lawn mowers D) soft drinks E) furniture
Once a company has decided to employ a particular generic competitive strategy, then it must make the following additional strategic choices, except whether to
A. create and deploy company resources to cause rivals to defend themselves. B. display a strong bias for swift, decisive, and overwhelming actions to overpower rivals. C. focus on building competitive advantages. D. pay special attention to buyer segments that a rival is already serving. E. employ the element of surprise as opposed to doing what rivals expect and are prepared for.
An RFM model that combines any two dimensions, includingrecency-frequency value, recency-monetary value, or frequency-monetary value, and assigns priorities to each dimension is always:
a. A goal programming model. b. A linear programming model. c. A non-linear programming model. d. None of the above can be used to formulate such a model
Answer the following statement(s) true (T) or false (F)
1. A tangible cost of waiting lines is the lost sales because customers decided to go elsewhere. 2. In modeling a waiting line, we can consider several characteristics, such as the revenue or yield per customer. 3. In queueing models, we make several assumptions about the arrival pattern of customers, for instance, the customers will switch lines to whichever line is moving fastest. 4. Marginal profit principle is a type of queue discipline. 5. Interarrival time is a variable whose numerical outcomes can be counted.