An Annual Budget Is an Example of a Single Use

question 73

True/False

An annual budget is an example of a single use tactical plan.

---

Definitions:

Bayes' Theorem

A mathematical formula that describes how to update the probabilities of hypotheses when given evidence.

Multiplication Law

A probability rule that determines the likelihood of two independent events occurring together by multiplying their individual probabilities.

Chebyshev's Theorem

A statistical theorem stating that for any set of data, the proportion of results that fall within k standard deviations from the mean is at least 1-1/k^2 for k>1.

Empirical Rule

A rule that can be used to compute the percentage of data values that must be within one, two, and three standard deviations of the mean for data that exhibit a bell-shaped distribution.