Information That Is Timely Is Available to a Manager ________

question 58

Multiple Choice

Information that is timely is available to a manager ________.

• A) to ensure a common understanding
• B) only if it is accurate and reliable
• C) for measuring irrelevant data
• D) when a decision is being made

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Definitions:

Sampling Error

The error that arises from using a sample to estimate a population parameter, due to the sample not perfectly representing the population.

Confidence Desired

The degree of certainty or level of confidence one desires in the results of a statistical analysis, often expressed as a percentage.

Confidence Interval

A range of values, derived from sample statistics, that is believed to contain the true population parameter with a certain probability level.

Sampling Error

The difference between a sample statistic and the corresponding population parameter due to the fact that the sample is not a perfect representation of the population.