Business Analytics Combine "Traditional" Statistical Methods with Methods and Techniques

question 24

True/False

Business analytics combine "traditional" statistical methods with methods and techniques from management science and information systems to form an interdisciplinary tool that supports fact-based management decision making.

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Definitions:

Purely Situational Approach

A viewpoint emphasizing that behavior or decisions should be based solely on the specifics of the situation, rather than on general principles or theories.

Theory Y

Theory Y suggests a management style that assumes employees are self-motivated, seek responsibility, and can solve work problems creatively, advocating for a participative management approach.

Imagination

The ability of the mind to be creative or resourceful, envisioning things not currently present or not yet existing.

Positivist Concept

A philosophical theory stating that positive knowledge is based on natural phenomena and their properties and relations as verified by empirical evidence.