You Are a Manager Assessing Possible Alternatives for the Solution

question 78

Multiple Choice

You are a manager assessing possible alternatives for the solution of a problem. To do this, you have to determine the net financial payoff of each alternative. Which of the following criteria of decision making do you have to implement to accomplish this?

• A)economic feasibility
• B)practicality
• C)ethicalness
• D)legality

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Definitions:

Economic Activity

The total amount of production, distribution, and consumption of goods and services in an economy.

Standard Deviation

A statistical measure of the dispersion of a set of data from its mean, often used to quantify the risk of a financial instrument.

Variance

A measure of how much a set of numbers differ from their average value.

Dispersion

A statistical measure that describes the spread of values around the mean or average, indicating variability within a data set.