The Five Forces Model Determines Whether an Industry Is an Oligopoly

question 215

True/False

The Five Forces Model determines whether an industry is an oligopoly.

---

Definitions:

Empirical Rule

The Empirical Rule, also known as the 68-95-99.7 rule, states that for a normal distribution, roughly 68% of data falls within one standard deviation of the mean, 95% within two standard deviations, and 99.7% within three standard deviations.

Coefficient of Variation

A statistical measure that shows the dispersion of data points or distribution relative to the mean, usually expressed as a percentage.

Standard Deviation

It quantifies the dispersion of a dataset relative to its mean, indicating how spread out the data points are.

Variance

A measure of the spread between numbers in a data set, indicating how far each number in the set is from the mean.