A Performance Management and Evaluation System Is Utilized So That

question 108

Multiple Choice

A performance management and evaluation system is utilized so that a company can identify which of the following?

• A) How well it is doing and where it is going
• B) How satisfied investors are with their return on investment
• C) How satisfied both customers and employees are
• D) How well it is doing, where it is going, and what improvements will bring in more profit

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Definitions:

Variability

The extent to which data points in a statistical distribution or dataset differ from the average or mean value.

Sample Size

The number of observations or data points collected in a sample from a population.

Central Limit Theorem

A statistical theory that states that, given a sufficiently large sample size from a population with a finite level of variance, the mean of all samples from the same population will be approximately equal to the mean of the population, and the samples will be distributed approximately normally.

Normal Probability Distribution

A type of continuous probability distribution that is symmetrical around its mean, representing how random variables are distributed in many natural phenomena.