Once Managers Have Measured Actual Performance, They Should

question 69

Multiple Choice

Once managers have measured actual performance, they should

• A)revise accepted standards.
• B)compare actual performance to the standards.
• C)establish the standards of performance.
• D)initiate corrective action.
• E)develop goals and objectives.

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Definitions:

P-value

The P-value is a statistical metric that helps determine the significance of the results from a hypothesis test, measuring the probability of observing the test results under the null hypothesis.

Average Amount

The sum of a set of values divided by the number of values, often used to describe the central tendency of a data set.

Sleep

A natural state involving mind and body where consciousness is altered, sensory activities are significantly reduced, and almost all voluntary muscles are inhibited.

Confidence Intervals

Ranges within which a population parameter is estimated to lie, with a certain level of confidence.