When Is a Hypothesis Considered Scientific

question 45

Multiple Choice

When is a hypothesis considered scientific?

• A) when it is based on something other than observation
• B) when it can be tested and is refutable
• C) when it relies on anecdotal evidence
• D) when it relies on mystical explanations
• E) All hypotheses are considered scientific until experiments determine otherwise.

Identify businesses and sectors that have significantly benefited from analytics and big data.

Understand the impact of low-cost information technology and social media on the growth of crowdsourcing.

Grasp the concept of analytics in finding meaningful patterns within large datasets.

Recognize the relationship between analytics, big data, and evidence-based management.

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Definitions:

Production Budget

An estimate of the total amount of production, in units, that a company needs to meet its sales goals and inventory policies.

Master Budget

A number of separate but interdependent budgets that formally lay out the company’s sales, production, and financial goals and that culminates in a cash budget, budgeted income statement, and budgeted balance sheet.

Interdependent Budgets

Budgets within an organization that are related and influenced by one another, requiring coordination for effective financial planning.

Units Produced

A measure of output from a production process, indicating the total number of complete units manufactured during a given period.