Which of the following scenarios most accurately reflects the concept of scarcity?

1. the steak henry did not buy because he is a vegetarian.
2. brett is a farmer with an open field on which he can plant either soybeans or corn.
3. sienna enjoys viewing flowers in the city garden during her walk.
4. the smith household produces an average of three bags of trash a week.

True or false: a fitted model with more predictors will necessarily have a lower training set error than a model with fewer predictors.

Adrawback of short-term contracting as an alternative to making a component in-house is thata. it is the most-integrated alternative to performing an activity so the principal company has no control over the agent. b. the supplying firm has no incentive to make any transaction-specific investments to increase performance or quality. c. it fails to allow a long planning period that individual market transactions provide. d. the buying firm cannot demand lower prices due to the lack of a competitive bidding process.

Lead time for one of your fastest-moving products is 20 days. demand during this period averages 90 units per day.a) what would be an appropriate reorder point? ) how does your answer change if demand during lead time doubles? ) how does your answer change if demand during lead time drops in half?