Question

which of the following statements about service level is correct? question 7 options: it can be greater than one. it is something that should be minimized in retail. it is the probability of not stocking out. it is the probability of stocking out.

Answer 1

The following statements approximately carrier degree is correct: D-  it's far the possibility of stocking out.

The required details for Probability in given paragraph

Probability is the department of mathematics regarding numerical descriptions of ways possibly an occasion is to occur, or how possibly it's far that a proposition is true. The possibility of an occasion is a number of among zero and 1, where, kind of speaking, zero suggests impossibility of the occasion and 1 suggests certainty. The better the possibility of an occasion, the much more likely it's far that the occasion will occur. A easy instance is the tossing of a fair (unbiased) coin. Since the coin is fair, the 2 consequences are each similarly probable; the possibility of "heads" equals the possibility of "tails"; and due to the fact that no different consequences are possible, the possibility of either "heads" or "tails" is 1/2. These ideas had been given an axiomatic mathematical formalization in possibility concept, that's used broadly in regions of study such as statistics, mathematics, science, finance, gambling, synthetic intelligence, device learning, pc science, recreation concept, and philosophy to, for instance, draw inferences approximately the predicted frequency of events.

Probability concept is likewise used to explain the underlying mechanics and regularities of complicated systems.

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