When a Decision Is Made in an Organization, It Is

question 43

Multiple Choice

When a decision is made in an organization, it is selected from a group of alternative courses of action (i.e., decision alternatives) . The loss associated with not choosing a given decision alternative is referred to as a(n) :

• A) Sunk cost.
• B) Discretionary.
• C) Opportunity cost.
• D) Committed cost.
• E) Outlay cost.

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Definitions:

Coefficient Of Skewness

A statistical measure that quantifies the asymmetry of a distribution around its mean, indicating if the distribution leans to the left or right.

Skewness

A measure of the asymmetry of the probability distribution of a real-valued random variable, indicating how much the distribution leans to one side of the mean.

Positively Skewed

Describes a distribution of data where the tail on the right side of the histogram is longer or fatter than the left side, indicating that the majority of the data points are clustered to the left.

Histogram

A graphical representation of data using bars of different heights to illustrate the distribution of variables within intervals.