A Large Sample Survey Was Used to Ask a Total

question 3

Multiple Choice

A large sample survey was used to ask a total of 2,615 managers within U.S.corporations what they considered to be the most important characteristic of effective leaders.The item that ranked #1 was:

• A)Inspiring.
• B)Honest.
• C)Imaginative.
• D)Dependable.

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Definitions:

Maximize Profits

The process by which a business seeks to achieve the highest possible return from its operations, often through optimizing costs, pricing, and production strategies.

Marginal Revenue

The additional revenue that an entity receives from selling one more unit of a good or service.

Average Revenue

The amount of revenue received per unit of a good or service sold, calculated by dividing total revenue by the total number of units sold.

Maximize Profits

Business objective to achieve the highest possible profit from operations and sales.