If One Knows ΣX , N , and ΣX ²

question 107

True/False

If one knows ΣX , N , and ΣX ², one can calculate both the variance and the standard deviation. It is not necessary to know the mean itself.

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Definitions:

Customer Value

The perception of what a product or service is worth to a customer versus the possible alternatives, often influencing their buying decision.

Re-Engineering

Refers to the radical redesign of business processes for significant improvement in performance, efficiency, and quality.

Activity-Based Management

A management approach focusing on identifying and evaluating activities that a business performs, to improve decision making and operational efficiency.

Objectivity

The practice of basing decisions, judgments, or analysis on facts and evidence, free from personal bias or emotions.