The Initial Applications of Information Technology by Organizations Was in the Area

question 50

Multiple Choice

The initial applications of information technology by organizations was in the area of:

• A) decision support systems.
• B) transaction processing systems.
• C) management information systems.
• D) enterprise resource planning.

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Definitions:

Expected Value

A statistical concept that represents the average outcome when the same event is repeated multiple times.

Utility

In economics, the satisfaction or pleasure that consumers derive from consuming goods or services.

Risk-neutral

An attitude towards risk where an individual values all outcomes equally without preference for risk.

Risk-loving

A preference or inclination to undertake investment with uncertain outcomes, often with the potential for significant gains.