Ideally,functional Systems Enable __________,Which Is Being Able to Access Current

question 5

Multiple Choice

Ideally,functional systems enable __________,which is being able to access current data to learn what is needed in order to make informed decisions without delay.

• A)control
• B)monitoring
• C)transparency
• D)quick response

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Definitions:

Descriptive Statistics

Descriptive statistics consist of methods for summarizing and organizing data, such as measures of central tendency and variability, to describe its main features.

Inferential Statistics

The branch of statistics that focuses on drawing conclusions about a population based on a sample taken from it, usually through hypothesis testing or estimation.

Example

An instance or case that is representative of a concept or demonstrates a particular situation or principle.

Net Present Value

A financial metric used to evaluate the profitability of an investment, calculated by subtracting the present value of cash outflows from the present value of cash inflows over a period.