Which of the Following Is NOT True About the Product

question 39

Multiple Choice

Which of the following is NOT true about the product innovation charter (PIC) ?

• A)It is developed by first or second level managers.
• B)It provides guidance to all functional areas involved in innovation.
• C)It defines a scope of activity for new product development.
• D)It helps the product team identify where they should focus their efforts.

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Definitions:

Expected Opportunity Loss

A statistical determination of potential loss due to not selecting the optimal choice among different options.

Gross Profits

The difference between revenue and the cost of goods sold before deducting overheads, payroll, taxation, and interest payments.

Probability

A measure of the likelihood that a particular event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Rollback Technique

A decision analysis procedure used to solve decision trees backwards from the end nodes to the beginning, to find the sequence of decisions that maximizes the expected utility.