What Is a Reason That Companies Might Want to "Buy

question 20

Multiple Choice

What is a reason that companies might want to "buy" instead of "make" talent from the market when looking to acquire employees with a particular skill set?

• A)External training methods are better than internal ones
• B)Companies are always willing to pay more for external employees
• C)External training is more advanced (up-to-date)than internal
• D)Scale economies can result in fixed education costs while in house education methods may be more expensive
• E)Externally trained employees are more likely to become better business leaders

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Definitions:

Cumulative Probability

The probability of obtaining a result equal to or less than a specific value within a statistically distributed set of data.

Demand Probability

The likelihood or chance that a product or service will be desired or required by the market at a certain time.

Monte Carlo Simulation

A statistical technique employing random variables to simulate a model numerous times, thereby estimating the probable outcomes of various decisions or future events.

Cumulative Probability

The probability that a random variable is less than or equal to a specific value, often visualized as the area under the probability distribution curve to that point.