Identify the Management Function in Which Top Managers in an Organization

question 25

Multiple Choice

Identify the management function in which top managers in an organization spend most of their time.

• A)Benchmarking
• B)Controlling
• C)Organizing
• D)Staffing
• E)Planning

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Definitions:

Point Estimate

A single value estimate of a population parameter that serves as the best guess or prediction of the parameter.

Confidence Limits

Confidence limits define the range within which a population parameter is estimated to lie with a certain level of confidence.

Standard Error

A measure of the dispersion or spread of sample means around the population mean.

Confidence Interval

A range of values, derived from a data set, that is likely to contain the value of an unknown population parameter.