List and Explain the Four Basic Functions of Management

question 42

Essay

List and explain the four basic functions of management.

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Definitions:

Probability

A measure of the likelihood or chance that a certain event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Uniform Distribution

A type of probability distribution in which all outcomes are equally likely; each variable has the same probability of occurring.

Electronics Test

The process of using test equipment to evaluate the performance, functionality, and quality of electronic devices and components.

Standard Normal

A type of normal distribution with a mean of zero and a standard deviation of one, used as a reference to determine probabilities of a normal random variable.