Firms Should Consider Preparing a Software Prototype If the Software

question 48

Multiple Choice

Firms should consider preparing a software prototype if the software

• A)will be used for a critical function like accounts receivable.
• B)automates an unstructured or semi-structured task.
• C)can be produced using expertise available in-house.
• D)is available as a canned package.

---

Definitions:

Variance

A measure of the dispersion or spread of a set of data points around their mean, indicating how much the data points differ from the mean.

Standard Normal Random Variable

A random variable with a mean of zero and a standard deviation of one, following the standard normal distribution, which is a specific instance of the normal distribution.

Average Balance

Average balance is a financial term referring to the sum of all balances during a certain period divided by the number of days in that period, often used in banking to assess fees or determine interest.

Standard Deviation

An evaluation of how spread out or dispersed a collection of data points is.