Budgets Are Said to Be Useful in Promoting Forward Thinking

question 71

Multiple Choice

Budgets are said to be useful in promoting forward thinking and identification of short-term problems, because:

• A)management can foresee future promotion opportunities.
• B)management can react to problem areas as they occur.
• C)potential problem areas can be identified early enough to allow management to explore ways of overcoming the problem.
• D)all of the above.

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Definitions:

T-statistic

A type of statistic used in hypothesis testing, calculated from sample data to assess the strength of the evidence against the null hypothesis.

Z-score

A Z-score is a statistical measurement describing the number of standard deviations a data point is from the mean of a data set, used in standardizing data and for hypothesis testing.

Theoretical Distribution

A mathematical function that represents the possible values and their associated probabilities of a random variable.

Sampling Distribution

A specific statistic's probability distribution, resulting from a sample taken at random.