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In a brief essay, discuss the components necessary for an effective performance management process.
Standardization And Specialization
A process that involves implementing uniform procedures and practices while focusing on specific areas of expertise to improve efficiency and quality.
Standard Deviation
A measure reflecting how much the data points diverge or spread out from each other.
Confidence Interval
A statistical range, with a certain probability, that is believed to contain the true value of an unknown parameter.
Random Variable
A variable whose values depend on the outcomes of a random phenomenon.
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