On Occasion,a Simulation May Yield Results That Are Statistically Significant

question 37

Essay

On occasion,a simulation may yield results that are statistically significant but have little use in a manager's decision making.Such results lack ________.

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Definitions:

Informational Reports

Reports that offer data, facts, feedback, and other types of information, without analysis or recommendations.

Data

Facts and statistics collected together for reference or analysis.

Recommendations

Suggestions or advice given based on analysis or experience, intended to guide decisions or actions.

Purpose Statement

A declaration made by an individual or organization that outlines their intentions, goals, or objectives, providing a clear direction for actions.