Answered: Discuss and explain comparative…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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BREIFLY PLEASE,

Discuss and explain comparative performance measurement systems such as simple rank order, alternation rank order, paired comparisons, relative percentile, and forced distribution being aware of the relative advantages and disadvantages of each and critique the assumption that performance is normally distributed and recommend how to produce star performers.

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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