A Study of the Scores on an In-Plant Course in Management

question 177

Multiple Choice

A study of the scores on an in-plant course in management principles and the years of service of the employees enrolled in the course resulted in these statistics: i. Mean test score was 200 with a standard deviation of 40
ii. Mean number of years of service was 20 years with a standard deviation of 2 years.
In comparing the relative dispersion of the two distributions, what are the coefficients of variation?

• A) Test 50%, service 60%
• B) Test 100%, service 400%
• C) Test 20%, service 10%
• D) Test 35%, service 45%

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Definitions:

Entrepreneur

An individual who takes on the risk of starting and managing a business venture to achieve financial returns or other personal objectives.

Production

The process of creating goods or services using inputs like labor, capital, and natural resources.

Production Possibilities Curve

A graphical representation showing the maximum number of goods or services that can be produced using limited resources efficiently.

Normative Statements

Statements that express value judgments or opinions about what ought to be, rather than facts that can be tested or verified.