Table 93
-In Table 9

question 356

Multiple Choice

$\begin{array}{cccc}\hline \text { Markets } & \begin{array}{l}\text { Plums high quality) }\end{array} & \begin{array}{l}\text { Lemons low quality) } \\\text { Supplied }\end{array} & \begin{array}{c}\text { \% Buyers Believe are } \\\text { Lemons low quality) }\end{array} \\\hline 1 & 5 & 25 & 70 \% \\2 & 10 & 20 & 60 \% \\3 & 15 & 15 & 40 \%\\\hline \end{array}$ Table 9.3
-In Table 9.3, market 1 would be in equilibrium if buyers believed lemons account for:

• A)about 83.33% of the market.
• B)about 71.43% of the market.
• C)about 66.67%% of the market.
• D)about 42.86% of the market.

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Definitions:

Information System

Organized method for collecting, storing, and communicating past, present, and projected information on internal operations and external intelligence.

Data Warehouse

Customer database that allows managers to combine data from several different organizational functions.

External Intelligence

Information gathered from outside an organization to support decision-making.

Big Data

Large and complex data sets that are analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.