A Group of 100 Students Were Surveyed About Their Interest

question 40

Short Answer

A group of 100 students were surveyed about their interest in a new Economics major. Interest was measured in terms of high, medium, or low. 30 students responded high interest; 50 students responded medium interest; 20 students responded low interest. What is the best way to illustrate the relative frequency of student interest?
A. Cumulative frequency polygon
B. Bar chart
C. Pie chart
D. Frequency table

Understand the different types of decisions (programmed vs. nonprogrammed) and the context in which they are made.

Identify and understand common decision-making traps and how they can influence outcomes.

Appreciate the concept of unintended consequences in decision-making and the importance of tacit knowledge over explicit knowledge.

Identify various types of igneous rocks based on their characteristics.

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Definitions:

Collateral Promise

A secondary agreement made to take responsibility for another's performance under a contract, often requiring a writing to be enforceable.

Personnel Manager

An individual responsible for overseeing the human resource department of an organization, dealing with staffing, training, and employee welfare.

Statute of Frauds

A legal principle that requires certain contracts to be in writing and signed by all parties involved to be enforceable.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise that the other party has reasonably relied on to their detriment.