Question: Classify the following variables as either observation based or time based: (a) Time-to-failure of an electronic component. (b) Inventory level of an item. (c) Order

Classify the following variables as either observation based or time based:

(a) Time-to-failure of an electronic component.

(b) Inventory level of an item.

(c) Order quantity of an inventory item.

(d) Number of defective items in a lot.

(e) Time needed to grade test papers.

(f) Number of cars in the parking lot of a car-rental agency.

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