For a Given Expected Value,the Smaller the Standard Deviation of the Expected

question 52

True/False

For a given expected value,the smaller the standard deviation of the expected value,the larger the risk.

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Definitions:

Identify Need

The process of recognizing a gap or requirement that necessitates a solution or action to improve a situation or resolve a problem.

Implement Change

This involves executing strategies or actions to alter the current state of an organization or system to achieve desired improvements or adaptations.

Open System

A system that receives inputs from its external environment.

External Environment

Factors outside an organization that can affect its operations and success, including economic, political, social, and technological influences.