Assume that customer arrivals at a small cafe can be modeled by a Poisson distribution. The average arrival rate is 3 customers per hour. What is the probability of exactly 2 arrivals in the next hour (to two decimal places)?
a. 1.00
b. 0.15
c. 0.22
d. 0.45
c. 0.22
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Early adopters are opinion leaders in their communities. They adopt new ideas early but carefully
Indicate whether the statement is true or false
Cost containment practices by a firm would not be effective for cost increases caused by
a. inflation. b. a reduction in the quantity of an input purchased. c. normal seasonality. d. a reduction in the number of suppliers.
Internal dimensions include:
A) Ethnicity B) Income C) Marital status D) Appearance
Which of the following actions would be likely to shorten the cash conversion cycle?
A. Change the credit terms offered to customers from 3/10 net 30 to 1/10 net 50. B. Begin to take cash discounts on inventory purchases; the terms are 2/10 net 30. C. Adopt a new manufacturing process that saves some labor costs but slows down the conversion of raw materials to finished goods from 10 days to 20 days. D. Change the credit terms offered to customers from 2/10 net 30 to 1/10 net 60. E. Adopt a new manufacturing process that speeds up the conversion of raw materials to finished goods from 20 days to 10 days.