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In what way can suppliers with a strong bargaining position threaten managers and their organizations? What threat can an organization pose its suppliers?
Normal Random Variable
A variable that is distributed according to the normal distribution, characterized by its mean and standard deviation.
Mean
The average of a set of numbers, calculated by dividing the sum of all the numbers by the quantity of numbers.
Standard Deviation
A statistical measure that quantifies the variability or dispersion of a dataset relative to its mean; used to gauge the amount of variation or spread in a set of data points.
Percentile
A measure indicating the value below which a given percentage of observations in a group of observations falls.
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