Expected Monetary Value May Be Defined as

question 54

Multiple Choice

Expected monetary value may be defined as

• A)the weighted average of all possible outcomes.
• B)the probability that each outcome will not occur.
• C)the weighted average of the financial outcomes with the probability of each outcome serving as the weight.
• D)the average of all possible outcomes.
• E)the weighted average of all mutually exclusive outcomes.

---

Definitions:

Compensation System

A structured approach used by organizations to determine and provide wages, salaries, and benefits to employees.

Compensation Costs

Expenses incurred by employers to remunerate employees, including wages, salaries, bonuses, benefits, and any other forms of payment for services rendered.

Slipshod Attempt

A careless or poorly planned effort to accomplish a task, often leading to unsatisfactory or incomplete results.

Human Resource Management

The strategic approach to managing a workforce, including recruitment, selection, training, compensation, and performance management, to optimize productivity and satisfaction.