The Optimal Level in the Trade-Off Between Measurement and Error

question 13

Multiple Choice

The optimal level in the trade-off between measurement and error costs is when

• A)measurement costs are greater than error costs.
• B)measurement costs are less than error costs.
• C)measurement costs equal error costs.
• D)the total of measurement costs and error costs are maximized.

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Definitions:

Application Portfolio

Refers to the managed set of software applications and digital solutions used by an organization to support its business processes and operations.

Constraints

Limitations or restrictions that are placed on a process or system.

IS Environment

Information Systems Environment, referring to the overall conditions and elements that affect how information systems are designed, implemented, and used within an organization.

IT Steering Committee

A committee composed of a group of managers and staff representing various organizational units that is set up to establish IT priorities and to ensure that the MIS function is meeting the needs of the enterprise.