Final answer:
The example of reducing employee absenteeism by 20 percent within two years is an example of a mid-range business plan. The mean number of days absent of 3.5 represents a statistical measurement, and the safety engineer's method of analyzing accident reports is an example of simple random sampling in business statistics.
Step-by-step explanation:
The example provided, "reduce employee absenteeism by 20 percent within the next two years," is an example of a specific type of business plan. This target falls into the category of a mid-range plan, as the time frame covers a period that is not immediate but also not extending beyond a few years. Mid-range plans are typically focused on achieving strategic objectives within a period of one to five years, thereby guiding the organization toward its long-term goals.
In contrast, looking at the instructor's sample, a mean number of days absent of 3.5 days is an example of a statistical measurement, important in both business settings for assessing employee attendance patterns and in mathematics for data analysis.
The scenario described where a safety engineer looks at accident reports until finding an accident caused by failure to follow instructions is an example of a research method called simple business statistics random sampling. This is a common approach within to ensure that every sample has an equal chance of being selected, thus reducing bias in the data analysis process.