What Type of Probability Distribution Will the Consulting Firm Most

question 133

Multiple Choice

What type of probability distribution will the consulting firm most likely employ to analyze the insurance claims in the following problem? An insurance company has called a consulting firm to determine if the company has an unusually high number of false insurance claims. It is known that the industry proportion for false claims is 3%. The consulting firm has decided to randomly and independently sample 100 of the company's insurance claims. They believe the number of these 100 that are false will yield the information the company desires.

• A) Binomial distribution
• B) Poisson distribution
• C) Hypergeometric distribution
• D) None of the above.

Comprehend the concept of offshoring and its impact on organizational structure.

Understand the key elements of job descriptions and their importance in organizational structure.

Comprehend the concept of intrapreneurship and its benefits within a company.

Recognize the steps and components involved in the job description process according to the U.S. Small Business Administration.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.