The Consumer Product Safety Commission

question 59

Multiple Choice

The Consumer Product Safety Commission

• A) does not have any power--it can only advise the FTC.
• B) protects small business from large business, rather than protecting consumers.
• C) was created by the Pure Food and Drug Act.
• D) has no effect on marketing strategy planning until a product is on the market and proved to be dangerous by a government agency.
• E) has broad power to set safety standards and penalties for violation of these standards.

Understand the effect of outliers on statistical measurements.

Differentiate between the types of data distributions, including symmetrical, bimodal, and skewed distributions.

Calculate and interpret range and its implications on data spread.

Understand the rationale behind discarding outliers in certain analytical methods.

---

Definitions:

Political Risk Assessment

The process of analyzing and understanding the potential risks to business operations and investment caused by political decisions, events, or conditions in a given country.

Issues Management

The proactive process of identifying, assessing, and responding to potential issues that could negatively affect an organization.

Legal Audit

A comprehensive review of an organization's legal affairs, documents, and compliance with laws and regulations to mitigate risks and improve legal health.

Political Response Continuum

Political response continuum describes the range of actions and policies governments may adopt in response to societal issues, ranging from non-intervention to full-scale regulatory efforts.