Identify and Briefly Explain the Four Sections of the Performance

question 53

Essay

Identify and briefly explain the four sections of the performance and accountability report (PAR) that the Office of Management and Budget requires major federal departments and agencies to prepare.

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Definitions:

Payoff Table

A decision-making tool used in statistics and economics to display potential outcomes and their respective rewards or payoffs.

Electric Company

A business entity that generates, transmits, and/or distributes electricity to consumers and businesses.

Payoff Table

A matrix that shows the outcome (or payoff) of different strategies or decisions, given different states of nature or scenarios.

Expected Opportunity Loss

A measure of the average loss incurred from not choosing the best decision option under uncertainty.