A Retailer Claims That 90% of Its Customers Are "Pleased

question 63

Multiple Choice

A retailer claims that 90% of its customers are "pleased" or "very pleased" with the customer
Service. In a survey of 300 customers taken last week, what is the probability that 84% or more will
Be "pleased" or "very pleased" with the service?

• A) 0.1736
• B) 0.5736
• C) 0.3464
• D) Almost 100%
• E) Almost no chance

Differentiate between businesses and nonprofit organizations in terms of goals and functions.

Understand the factors within an organization's control that impact its operation.

Comprehend different economic systems and their impact on business operations.

Understand the unique economic transitions and strategies in communist countries adopting capitalist approaches.

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Definitions:

Executive Compensation

The total package of benefits, including salary, bonuses, stock options, and other perks, provided to top executives of a company.

Pension Plans

Financial programs that provide income during retirement, funded through contributions from employers, employees, or both.

Corporate Scorekeeping

The practice of monitoring and recording the financial and operational performance indicators of a company.

Organizational Strategy

A plan of action designed by management to achieve specific long-term goals and objectives, shaping the company's direction and scope.