In a Negotiation,_____ Is the Second-Best Outcome Identified by the Parties

question 42

Multiple Choice

In a negotiation,_____ is the second-best outcome identified by the parties to help clarify the value of achieving a successful negotiation.

• A)caveat emptor
• B)bootstrapping
• C)LEED
• D)BATNA

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Definitions:

Probability

A numeric scale between 0 and 1 that quantifies how likely an event is to take place.

z

In statistics, 'z' typically refers to a z-score, a measure of how many standard deviations an element is from the mean.

Standard Normal Random Variable

A random variable that has a normal distribution with a mean of 0 and a standard deviation of 1.

P

Sometimes used as shorthand for "P-value," which assesses the strength of evidence against a null hypothesis in statistical testing.