Assume that customer arrivals at a ticket counter can be modeled by a Poisson distribution. The average arrival rate is 12 customers per hour. What is the probability of exactly 6 arrivals in the next hour (to three decimal places)?
a. 1
b. 0.25
c. 0.17
d. 0.08
b. 0.25
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In a production cost report, the number of total units to account for consists of ________. The weighted-average method is used.
A) units in process at the beginning of the period and units started or added during the period B) units in process at the end of the period and units started or added during the period C) units in process at the beginning of the period and units remaining at the end of the period D) units of completed and transferred out products and total units produced
In order to be useful, demand forecasts should be ______.
a. consistent b. complex c. time-consuming d. inaccurate
A separate capital account would be maintained for each partner in a partnership.
Answer the following statement true (T) or false (F)
An efficient supply chain typically has:
A) a high capacity cushion. B) high inventory turns. C) supply chain partners that emphasize fast delivery time. D) supply chain partners that emphasize volume flexibility.