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Strategic Decisions Are Different from Other Types of Decisions Because

question 18

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Strategic decisions are different from other types of decisions because they are easily made using past history and experience; strategic decisions become routinized over a period of time.


Definitions:

Uniform Distribution

An equal likelihood for all outcomes characterizes this probability distribution.

Waiting Time

The duration of time that passes from a specified point until a particular event occurs, often analyzed in queueing theory to improve service processes.

Standardize

The process of adjusting values measured on different scales to a notionally common scale, often used in statistical analysis to compare data points.

Normal Curve

A symmetrical, bell-shaped curve that represents the distribution of many types of data; most scores are near the mean, with fewer scores at the extremes.

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