Good Decisions Are Based on Accurate Information

question 72

Multiple Choice

Good decisions are based on accurate information.The success of fast-food restaurants in diverse markets can be attributed to the managers who have relatively accurate

• A)schemas.
• B)gender schemas.
• C)biases.
• D)perceptions.
• E)stereotypes.

---

Definitions:

Population Means

The average values derived from the entirety of a given population, representing a central tendency.

Standard Error

The standard deviation of the sampling distribution of a statistic, most commonly of the mean; it measures how precisely the mean of the sample estimates the population mean.

Point Estimate

A single value or statistic that serves as the best guess or most likely value for a population parameter based on sample data.

Population Means

The average or mean value of a particular characteristic of all individuals in a population.