What Is the Relationship Between Time and Decision-Making

question 20

Short Answer

What is the relationship between time and decision-making?

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Definitions:

Mean

The arithmetic average of a set of numbers, calculated by adding them together and dividing by the number of values.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, indicating how much the values deviate from the mean.

Range

The difference between the highest and lowest values in a set of numbers, indicating the spread or dispersion of the dataset.

Empirical Rule

The empirical rule, also known as the 68-95-99.7 rule, states that for a normal distribution, approximately 68% of the data falls within one standard deviation of the mean, 95% within two, and 99.7% within three.