Scenario - Larry Slaton

question 122

Multiple Choice

Scenario - Larry Slaton
Larry Slaton is an executive with InfoTech Productions. This morning, Larry has been attending a top management meeting exploring the potential value of using a new computer system at InfoTech. The executive team has reached a consensus opinion that the new system should be able to increase the effectiveness and the efficiency of operations and services. Larry has been assigned to work directly with computer system vendors and to develop the best system for InfoTech.
-Larry is negotiating with a computer software firm to develop an interactive CBIS that facilitates group communication and decision making. This software is normally classified as

• A) artificial intelligence.
• B) a collaborative work system.
• C) an expert system.
• D) an electronic data exchange.
• E) none of these.

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Definitions:

Price Increase

A rise in the cost of goods or services over time, often measured as a percentage.

Quality Reduction

A decrease in the standard or grade of products or services, often as a cost-saving measure by producers.

Prospect Theory

A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probability of outcomes is known.

Marginal Disutility

The added dissatisfaction or inconvenience experienced by consuming one more unit of a good or service.