Which Statement Concerning Benchmarking Is Not Correct

question 60

Multiple Choice

Which statement concerning benchmarking is not correct?

• A) Benchmarking data is available from government, trade magazines, and other sources.
• B) A retailer should seek to benchmark its performance against high-performance firms regardless of industry.
• C) Benchmarking is only suitable for large retailers.
• D) Retailers can benchmark their performance against retailers and nonretailers.

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Definitions:

Population Proportion

The ratio of members in a group that satisfy a particular condition to the total number of members in the population.

Sample Size

The number of individuals or observations included in a sample, which is a subset of a population used for statistical analysis.

Successes

The number of times an event occurs in a series of trials or experiments.

Population Proportion

A measure that describes the fraction of individuals in a population that possess a specified attribute or characteristic.