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Exhibit 10.2
The following questions are based on the problem description and the output below.
A college admissions officer wants to evaluate graduate school applicants based on their GMAT scores, verbal and quantitative. Students are classified as either successful (Group 1) , marginally successful (Group 2) or not-successful (Group 3) in their graduate studies. The officer has data on 20 current students, 7 successful (Group 1) , 6 marginally successful (Group 2) and 7 not successful (Group 3) .
-Refer to Exhibit 10.2. Based on the analysis presented in the spreadsheet, what percentage of the observations were correctly classified?
Retail Store Chain
A series of retail outlets owned by the same company, offering the same or similar merchandise.
CEO
Chief Executive Officer, the highest-ranking individual in a company or organization, responsible for making overarching decisions and setting strategic direction.
Controlling Process
The activity of monitoring and regulating organizational actions to ensure they align with established plans.
Measuring Performance
The process of evaluating the efficiency and effectiveness of an action or organization, often through the analysis of data.
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