________ Means That the Identification Code for a Customer Should

question 51

Multiple Choice

________ means that the identification code for a customer should not change each time new data are received.

• A) Stability
• B) Reliability
• C) Standards based
• D) Sortable

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Definitions:

Expected Monetary Value

A decision-making tool used in risk management to calculate the average outcome when the future holds scenarios with different probabilities.

Decision-making Process

The cognitive process leading to the selection of a course of action among several alternatives based on criteria or judgment.

Minimize Costs

Minimizing costs involves strategies and actions taken to reduce expenses and improve efficiency in operations, aiming to increase profitability.

Expected Value

The projected value of a variable, calculated as an average weighted by probabilities in statistical analysis.