The variance is the simplest measure of dispersion and is computed as the difference between the maximum value and the minimum value in the data set
a. True
b. False
Indicate whether the statement is true or false
False
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Answer the following statements true (T) or false (F)
1. Alison, the director of marketing for a global company, is planning the contributions she and her department will make to the organization over the next 24 months. This type of planning is called operational planning. 2. Paula is the store manager for a national grocery retailer, and she received the yearly tactical plan from Greg, her district manager. Paula is meeting with her department managers to plan how to implement the specific tasks outlined in Greg's plan for the next year. Paula is engaged in operational planning. 3. Goals are arranged in a hierarchy known as a means-end chain because in the chain of management, the accomplishment of high-level goals is the means leading to the accomplishment of low-level goals or ends. 4. Jerome's Italian Pizza is in a very competitive industry, and its upper management believes that it can achieve higher profits by focusing on a strategy of lowering costs and prices, providing quicker delivery, and providing good customer service. "Increase profits by 15% a year for each of the next five years" is an example of a strategic goal.
The payback method, unlike the net present value method, ignores cash flows after the point of cost recovery.
Answer the following statement true (T) or false (F)
A marketer is most likely to set prices according to a cash-flow objective when a
A. trial-and-error approach to the market is acceptable. B. certain market share must be maintained. C. quick return on investment is desired. D. higher price is acceptable to the firm. E. product is expected to have a long life cycle.
Which of the following is a decision-making approach a person uses when the negative impact of making the wrong decision is so high that he or she chooses that alternative that guarantees at least the minimum payoff?
A. maximax criterion B. Laplace criterion C. maximin criterion D. minimax regret criterion