A Firm's Technology May Depend on Which of the Following

question 31

Multiple Choice

A firm's technology may depend on which of the following factors?

• A)the skill of its managers
• B)the training of its workers
• C)the speed and efficiency of its equipment
• D)all of the above

Understand the concept and identification of outliers using z-scores.

Interpret and calculate quartiles and percentiles in data sets.

Distinguish between symmetric and skewed distributions.

Understand and construct box and whisker plots and interpret the five-number summary.

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Definitions:

Total Business

The complete range of commercial, industrial, or professional activities conducted by an organization or in an economy.

Invention

The creation of a new product, process, or idea that did not exist previously.

Development

A process of improvement in the material conditions of people through diffusion of knowledge and technology.

Technological Advance

The process of improving or developing new methods, tools, or products to increase efficiency, productivity, or quality in various fields, especially economics and industry.