Exhibit 7-3 The Following Information Was Collected from a Simple Random Sample

question 6

Multiple Choice

Exhibit 7-3
The following information was collected from a simple random sample of a population.
-Refer to Exhibit 7-3. The point estimate of the population standard deviation is

• A)2.000
• B)1.291
• C)1.414
• D)1.667

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Definitions:

Classical Approach

A theory of management that emphasizes a structured, formal organization and the importance of efficiency and productivity.

Scientific Management

A theory of management that analyzes and synthesizes workflows to improve economic efficiency, especially labor productivity.

Bureaucratic Organization

A structured and formal organization where rules, hierarchical structure, and detailed procedures guide operations and decision-making.

Classical Management

A theory of management that emphasizes a structured organizational hierarchy, a clear division of labor, and reliance on formal policies and procedures.