The Value of Information Can Best Be Determined by

question 63

Multiple Choice

The value of information can best be determined by

• A)its usefulness to decision makers.
• B)its relevance to decision makers.
• C)the benefits associated with obtaining the information minus the cost of producing it.
• D)the extent to which it optimizes the value chain.

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Definitions:

Mental Abilities

The capacity to perform cognitive tasks, understand complex ideas, learn from experience, reason, and solve problems.

Rigorously Scientific

Adhering strictly to empirical standards and methods in research or study to ensure validity, reliability, and accuracy.

Experimentation

The process of conducting tests and analyses under controlled conditions to explore hypotheses and observe outcomes in research.

Personality

The aggregate of qualities or characteristics that distinguish an individual’s personal character.