How Would the Technology Industry Use Business Intelligence

question 286

Multiple Choice

How would the technology industry use business intelligence?

• A)track crime patterns, locations, and criminal behavior
• B)analyze customer demographics
• C)predict sales, inventory levels, and distribution
• D)predict hardware failures

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Definitions:

Substitution Effect

That part of an increase (decrease) in amount consumed that is the result of a good being cheaper (more expensive) in relation to other goods because of a reduction (increase) in price.

Income Effect

The change in consumption resulting from a change in real income, typically due to a price change of goods or services.

Marginal Satisfaction

The change in satisfaction or utility that a consumer experiences from consuming an additional unit of a good or service.

Utility-Maximizing

The economic principle that consumers choose combinations of goods and services to maximize their satisfaction or utility under budget constraints.