Markov Analysis Is Particularly Useful in Organizations Where

question 59

Multiple Choice

Markov analysis is particularly useful in organizations where:

• A) the external environment is unstable and unpredictable
• B) internal (strategic) changes are complex and on-going
• C) jobs do not fluctuate rapidly due to external or internal change
• D) rapid response is needed to social and legal challenges
• E) economic conditions are changing quickly

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Definitions:

Expected Proportion

The predicted likelihood of an event occurring in a specific category or group.

Dependent

In statistics, referring to a variable that is assumed to depend on or be caused by another (independent) variable.

Come-Out Roll

The initial roll of the dice in a round of craps that determines the point or results in a win or loss for bets on the "Pass" and "Don't Pass" lines.

Immediate Loss

The loss recognized or experienced without delay upon the occurrence of a specific event.