The Data Component of a DSS

question 23

Multiple Choice

The data component of a DSS:

• A) uses transaction data.
• B) is highly detailed.
• C) is principally external data.
• D) is often a data warehouse.

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Definitions:

Interval Estimate

An estimation that specifies a range within which a parameter lies, providing an interval believed to encompass the true value of that parameter.

Sample Mean

The average of all the values in a sample set of data.

Confidence Interval

A span of values, taken from sample statistics, seen as likely to encase the value of an unidentified population parameter.

Confidence Level

The probability, expressed as a percentage, that a parameter lies within a specified range of values (confidence interval).