A Company Wants to Estimate the Mean Price of Oil

question 83

Multiple Choice

A company wants to estimate the mean price of oil over the past 10 years. What kind of data does the company need?

• A) Time series data
• B) Inferential statistics
• C) Cross-sectional data
• D) Descriptive statistics

---

Definitions:

Social Impacts

The effects of actions (corporate, governmental, or individual) on the well-being of a community or society.

Economic Impacts

The effect of business decisions or policies on the economy of a region, including factors like employment and GDP.

Management Performance Indicators

Metrics used to monitor and assess the effectiveness and efficiency of managerial actions in meeting organizational goals.

Environmental Performance

A measure of how well an organization or country is managing its environmental responsibilities and reducing its environmental impact.