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1. Which of the following is (are) true? I. Increasing redundancy increases reliability. II. Increasing redundancy increases utilization. III. Increasing complexity without increasing redundancy increases reliability.

a) I only.

b) II only.

c) III only.

d) I and II.

e) II and III.

2. Choosing a quantity to meet a single period of uncertain demand, after which any unused amount will be less valuable, is referred to as _____.

a. the newsvendor problem

b. redundancy

c. yield management

d. overbooking

Operation Management, Management Studies

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