Deciding Where to Open a New Restaurant Would Be Considered

question 24

Multiple Choice

Deciding where to open a new restaurant would be considered a(n) ________ type of decision.

• A)programmed
• B)nonprogrammed
• C)input
• D)transformation

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Definitions:

Population Parameter

A numerical value that represents a characteristic or measure of an entire population.

Population Standard Error

A measure of how much the sample mean of a population is likely to vary from the true population mean.

Confidence Interval

An array of values, sourced from statistical analysis of a sample, believed to cover the value of an unspecified population parameter.

Mean

The average of a set of numerical values, calculated by adding all the figures together and then dividing by the number of values.