A Contingency Plan

question 160

Multiple Choice

A contingency plan

• A) is used in conjunction with the organization's originally developed plan.
• B) is developed after considering possible events.
• C) can be used only at a strategic level.
• D) makes an organization less flexible.
• E) is unnecessary for organizations that face a dynamic environment.

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Definitions:

Matched-Pairs Designs

An experimental design in which each subject is paired with another subject based on certain criteria, and each pair is treated differently to compare outcomes.

Bootstrap Intervals

A technique in statistics to estimate the sampling distribution of an estimator by resampling with replacement from the original data, used to approximate confidence intervals.

Mean Income

The average amount of money earned by individuals or households in a specified region or demographic segment.

Resamples

In statistics, creating new samples from an observed dataset, often to perform bootstrap or permutation tests.