Use the Following Information to Answer the Question

question 51

Multiple Choice

Use the following information to answer the question. Lambda olive oil is touted as the "World's most expensive olive oil." A twelve ounce bottle typically costs fifty dollars or more. In a blind taste test, a group of food experts tasted three premium olive oils, one of which was Lambda olive oil. When asked to pick the Lambda olive oil, 84 got it right and 87 got it wrong.
-If this group were just guessing, how many people (out of 171) would be expected to guess correctly?

• A)57
• B)Not enough information given to calculate expected value.
• C)114
• D)86

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Definitions:

Fredrick Taylor

An American engineer and management consultant known for his scientific management theory, which sought to improve industrial efficiency through systematic study and analysis.

Proper Training

Systematic instruction and education designed to equip individuals with the knowledge and skills necessary for their roles.

Economic Gain

The increase in financial value or wealth, often resulting from business activities, investments, or measures of economic performance.

Management Thought

The theories and principles that guide the practices and decisions of managers in planning, organizing, leading, and controlling an organization.