A Statement That Clarifies the Purpose of the Organization and Expresses

question 37

Multiple Choice

A statement that clarifies the purpose of the organization and expresses what it hopes to be in the future is called a(n) __________.*

• A) operational plan
• B) vision statement
• C) strategic plan
• D) tactical plan

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Definitions:

Normal Curve

A bell-shaped curve that represents a distribution of probabilities of a continuous random variable.

Binomial Probability

The probability of obtaining a specific number of successes out of a fixed number of binary trials.

Binomial Random Variable

A type of discrete random variable that counts how often a particular event occurs in a fixed number of tries or trials.

Normal Approximation

A statistical method where a binomial distribution is approximated using the normal distribution, usually applied when sample sizes are large.