An example of a(n) heuristic used in business is to order a four months' supply of inventory for a particular item when the inventory level drops to 20 or fewer units. ____________________

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Heuristics are simple, efficient rules or guidelines used to make decisions or solve problems quickly. Ordering a four months' supply when inventory drops to 20 units is a rule of thumb for inventory management.

An Example of A(n) Heuristic Used in Business Is to Order