Managers Can Use BI to Answer Tough Business Questions

question 58

Multiple Choice

Managers can use BI to answer tough business questions. Which of the following describes the value of knowing where the business has been?

• A) A historical perspective offers important variables for determining trends and patterns.
• B) Looking at the current business situation allows managers to take effective action to solve issues before they grow out of control.
• C) Setting strategic direction is critical for planning and creating solid business strategies.
• D) None of these.

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Definitions:

Sample Size

The number of observations or data points collected in a study or used in a statistical analysis, crucial for the validity and reliability of results.

T-Values

Statistics used in T-tests that compare the means of two groups. They indicate how many standard deviations an observed sample mean is from the null hypothesis mean.

Z-Values

Standardized scores that indicate how many standard deviations an element is from the mean.

Sample Size

The number of observations or data points used in a statistical sample.