When a Decision Is Made Among a Number of Alternatives,the

question 156

Multiple Choice

When a decision is made among a number of alternatives,the benefit that is lost by choosing one alternative over another is the:

• A)realized cost.
• B)opportunity cost.
• C)conversion cost.
• D)accrued cost.

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Definitions:

Mean Score

A statistical metric representing the average value of a set of numbers.

Frequency Distribution

A summary of data showing the number (frequency) of observations in each of several non-overlapping categories or bins.

GMAT Scores

Scores obtained from the Graduate Management Admission Test, which assesses certain analytical, writing, quantitative, verbal, and reading skills.

Mean Score

The average score derived from a set of scores.