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Managers Are Able to Be Responsive to the Needs of Their

question 78

Multiple Choice

Managers are able to be responsive to the needs of their customers and maintain flexibility in making decisions regarding customers' changing needs with a ________ structure.


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.

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