Information Systems Technology Can Be Viewed as a Factor of Production

question 45

True/False

Information systems technology can be viewed as a factor of production that can be substituted for traditional capital and labor from the point of view of economics.

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Definitions:

Pivot Table

A tool in statistical software, such as SPSS or Excel, that allows the user to easily manipulate the rows, columns, and frequencies included in cross-tabulation tables.

Reliability Values

Quantitative measures indicating the consistency and stability of a measurement or test over repeated applications or time periods.

Data Mining

The process of analyzing large datasets to discover patterns, trends, and relationships that can inform decision making or predict future outcomes.

Data Mining

The process of discovering patterns, anomalies, and correlations within large data sets to predict outcomes, using a variety of techniques including machine learning, statistics, and database systems.