1. Which of the following would you characterize as a random variable? (mark all that apply)
A. The quality of service given to customer i in week j, Xij
B. The average quality of service offered in week j
C. The time a customer waits for service
D. The expected length of time a customer waits for service
E. Demand for service tomorrow
F. Your forecast of demand for service tomorrow using a point forecast
G. None of the above
2. A company’s competitive strategy
a. defines the set of customer needs that it seeks to satisfy through its products and services.
b. specifies the portfolio of new products that it will try to develop.
c. specifies how the market will be segmented and how the product will be positioned, priced, and promoted.
d. determines the nature of procurement and transportation of materials as well as manufacture and distribution of the product.
e. determines how it will obtain and maintain the appropriate set of skills and abilities to meet customer needs.