On Hot Summer Days,electric-Generating Capacity Is Sometimes Stretched to the Limit.At

question 6

Multiple Choice

On hot summer days,electric-generating capacity is sometimes stretched to the limit.At these times,electric companies sometimes ask people to voluntarily cut back on their use of electricity.What would an economist recommend

• A)It would be more efficient for every electric customer to have an incentive to prevent the system from overloading.
• B)It would be more efficient for the electric company to raise its rates for electricity at peak times.
• C)It would be more efficient to have a lottery to decide who must cut back their use of electricity at peak times.
• D)It would be more efficient to enforce rotating blackouts so everyone cuts their usage of electricity by the same amount.

Understand the various stages and components of needs assessment in training programs.

Recognize and apply different training techniques and methods for managerial and employee development.

Describe the systemic/strategic model of training including its phases.

Identify the reasons and factors influencing the success of training programs.

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Definitions:

Level of Significance

A threshold used in statistical testing to determine whether to reject the null hypothesis, commonly denoted as alpha (α).

Confidence Coefficient

The probability level or percentage that measures the degree of certainty in a confidence interval.

α

Often represents the level of significance in statistical tests, marking the probability threshold below which the null hypothesis is rejected.

Degrees of Freedom

The quantity of independent variables or measures that can change during the computation of a statistic.