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.
1. False
2. False
3. False
4. False
5. False
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According to Frederick Smith, chair and CEO of FedEx, the primary task of leadership is to
A. ensure progressive control and problem solving. B. align resources within the organization. C. inspire trust among all levels of employees. D. communicate the vision and values of an organization. E. oversee the success of an organization.
A frequency program provides incentives that are designed to encourage customers to make repeat purchases
Indicate whether the statement is true or false
Resource drivers are factors that measure the consumption of resources by activities
Indicate whether the statement is true or false
Use exponential smoothing to forecast the demand for March. What is the forecast if ? = 0.7?
A) 27.5 B) 31.25 C) 28.75 D) 29.25