Operational Efficiency Is

question 31

Multiple Choice

Operational efficiency is:

• A) driving the business strategy
• B) ensuring the right tasks are performed
• C) decreasing the firm's input requirements
• D) increasing the firm's output
• E) performing operations tasks well

---

Definitions:

Critical Value

A critical value is a point on the scale of the test statistic beyond which we reject the null hypothesis, used in significance testing.

Null Hypothesis

A statement used in statistics that suggests there is no effect or no difference, and any observed variance is due to chance.

Alpha

In statistics, alpha represents the significance level, the probability of rejecting the null hypothesis when it is actually true, often set at 0.05.

Alternative Hypothesis

The hypothesis that is tested against the null hypothesis in statistical hypothesis testing, representing a statement that indicates some effect or difference.