Which of the Following Is True About Business Analytics

question 35

Multiple Choice

Which of the following is true about business analytics?

• A)It enables you to use statistical methods to analyze and explore data to uncover unforeseen relationships.
• B)It enables you to use management science methods to develop optimization models that impact an organization's strategy,planning,and operations.
• C)It enables you to use complex mathematics to replace the need for organizational decision making and problem solving.
• D)It enables you to use information systems methods to collect and process data sets of all sizes.

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Definitions:

Recency Effect

The tendency to remember the most recently presented information best when recalling a list of items.

Short-term Memory

A type of memory that holds a small amount of information in an active, readily available state for a short period of time.

Commons Dilemma

A situation in which individuals' short-term selfish interests are in conflict with long-term group interests and common good.

Prisoner's Dilemma

A scenario in game theory in which two individuals acting in their own self-interest do not produce the optimal outcome for either party.