Distinguish Among Data, Information, and Knowledge

question 135

Essay

Distinguish among data, information, and knowledge.

Critically assess when improved career-oriented exchanges might not be desirable for followers.

Understand the basic concepts and significance of Leader-Member Exchange (LMX) theory.

Describe the organizational benefits of high-quality leader-member exchanges.

Recognize the distinction between in-group and out-group relationships within LMX theory.

---

Definitions:

Sample Statistic

A numerical value calculated from a sample, used to estimate a population parameter.

Spearman Rank

It's a method for assessing rank correlation without assuming any parameter, focusing on how a monotonic function might accurately describe the connection between two variables.

Ordinal Variables

Variables that represent categories with a meaningful order but without a fixed interval between categories, such as rankings or levels of satisfaction.

Pearson's Coefficient

A measure of the linear correlation between two variables, ranging from -1 to 1, where 1 means a perfect positive linear relationship and -1 a perfect negative linear relationship.