Which of the Following Best Illustrates an External Source of Data

question 16

Multiple Choice

 Which of the following best illustrates an external source of data that could be used with a marketing decision support system? 

• A) Sales record divided by territory
• B) Company expenditures on personal selling
• C) Organizational costs on advertising
• D) Information on technological advances in the field

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Definitions:

Decision Trees

A graphical tool that helps in decision-making by laying out different strategies and their possible outcomes in a tree-like diagram.

Sequential Problems

Issues or tasks that must be resolved or completed in a specific, linear order, often dependent on the completion of the previous step.

Perfect Information

A situation in which all participants have access to all relevant information, typically assumed in economic models to facilitate optimal decision-making.

Expected Value

The anticipated value of a variable, computed as the sum of all possible values each multiplied by the probability of its occurrence.