The Empirical Rule States That About 68% of the Observation

question 110

True/False

The Empirical Rule states that about 68% of the observation will lie within one standard deviation of the mean;about 95% of the observations will lie within two standard deviations of the mean;and virtually all (99.7%)will lie within three standard deviations of the mean.

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Definitions:

Senior Executives

Top-level managers or administrators in an organization responsible for making strategic decisions and overseeing the entire operation.

Complex

Consisting of many different and connected parts, making something difficult to understand or to find a solution for.

Formalization

The extent to which roles, rules, and procedures in an organization are standardized and written down.

Organizational Flexibility

The ability of an organization to adapt to changes, pivot strategies, and adjust its operational processes to meet business or market demands.