Which of the Following Statements Do Not Reflect Effective Decision

question 38

Multiple Choice

Which of the following statements do not reflect effective decision making using information systems (IS) ?

• A)Your mind and your thinking are the most important component in an IS.
• B)The quality of your thinking is a large part of the quality of the information system.
• C)You can change the way you have programmed your brain to work.
• D)Having the perfect information system is key to effective decisions.

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Definitions:

Payoff Table

A tool used in decision making that shows the outcome or results of different strategies under various conditions.

Expected Value Criterion

A decision-making approach that aims to maximize the expected outcome by taking into account all possible variations in performance.

EVPI

Expected Value of Perfect Information, a measure in decision theory that quantifies the value of having complete information in the decision-making process.

Setup Costs

The expenses incurred to prepare a machine, process, or system for manufacturing a new batch or product.