Provide an Appropriate Response $$\begin{array} { l | c c c } \text { Price } & \$ 10.00 & \$ 12.50 & \$ 15.00 \\\hline \text { Probability } & 0.25 & 0.3 & 0.45\end{array}$$

question 25

Multiple Choice

Provide an appropriate response.
-A lab orders a shipment of 100 rats a week, 52 weeks a year, from a rat supplier for experiments that the labconducts. Prices for each weekly shipment of rats follow the distribution below: $$\begin{array} { l | c c c } \text { Price } & \$ 10.00 & \$ 12.50 & \$ 15.00 \\\hline \text { Probability } & 0.25 & 0.3 & 0.45\end{array}$$ Suppose the mean cost of the rats turned out to be $13.00 per week. Interpret this value.

• A) The average cost for all weekly rat purchases is $13.00.
• B) Most of the weeks resulted in rat costs of $13.00.
• C) The median cost for the distribution of rat costs is $13.00.
• D) The rat cost that occurs more often than any other is $13.00.

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Definitions:

Continuous Improvement

A management approach focusing on the ongoing improvement of products, services, or processes through incremental and breakthrough improvements.

Organizational Development

A specialty dedicated to advancing the capacities and success rates of individuals in executing organizational changes and elevating performance, through systematic research, theory crafting, and practice.

Organizational Effectiveness

The degree to which an organization achieves its goals through efficient use of resources.

OD Strategy

Organizational Development Strategy, a comprehensive plan aimed at improving effectiveness, health, and outcomes of an institution through planned change processes.