A Tool Used for Presenting a Chain of Causes and Effects

question 61

Multiple Choice

A tool used for presenting a chain of causes and effects is called a _____.

• A) run chart
• B) fishbone diagram
• C) scatter diagram
• D) checksheet

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Definitions:

Quantity Demanded

Quantity demanded is the amount of a good that buyers are willing and able to purchase at a particular price over a specified period.

Insurance Policy

A contract between an insurer and a policyholder in which the insurer agrees to pay for specified losses in exchange for a premium.

Probability

A measure of the likelihood that an event will occur, often expressed as a fraction or percentage.

Independent Events

Events for which the occurrence of one does not affect the likelihood of occurrence of any of the others.