What Types of BI Decisions Include Forecasting Claim Amounts and Medical

question 12

Multiple Choice

What types of BI decisions include forecasting claim amounts and medical coverage costs, classifying the most important elements that affect medical coverage; predicting which customers will buy new insurance policies?

• A)Retail and sales BI decisions
• B)Banking BI decisions
• C)Operations management BI decisions
• D)Insurance BI decisions

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Definitions:

Labor Supply

The total hours of work that workers are willing and able to provide at a given wage rate in a certain period.

Unit Elastic

Describes a supply or demand curve where a given percentage change in price causes an equal percentage change in the quantity demanded or supplied.

Elasticity of Labor Supply

A measure of how the quantity of labor supplied changes in response to changes in wages or salaries.

Payroll Tax

A levy placed on either employees or employers, typically determined as a fraction of the wages employers distribute to their workers.