An Enterprise System Should Cause the Organization to Conduct Business

question 89

True/False

An enterprise system should cause the organization to conduct business in a more costly manner.

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Definitions:

Expected Value

The weighted average of all possible values of a random variable, with each value weighted according to its probability of occurrence.

Perfect Information

A situation in which all participants have full and equal knowledge of all relevant factors affecting decisions.

EMV

Expected Monetary Value, a decision-making tool used in risk management to calculate the average outcome when the future includes scenarios that may or may not happen.

Medium Potential

A term indicating a moderate level of capacity or ability to achieve or develop something in the future.