Which of the Following Statements Best Pertains to Model Base

question 3

Multiple Choice

Which of the following statements best pertains to model base management software required by marketing information systems?

• A)The software permits marketers to categorize and sort databases.
• B)The software contains routines for manipulating data.
• C)The software produces information to address decision-making needs.
• D)The software helps in retrieving data from internal and external sources.

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Definitions:

Pareto Optimal Allocation

A distribution of resources in an economy where improving the situation of one person necessitates detriment to another.

Utility Function

A mathematical representation of how a consumer ranks different bundles of goods based on their level of satisfaction or utility.

Endowed

Refers to the initial allocation of goods, resources, or wealth an individual or entity possesses.

Units

Measurements used to quantify physical quantities, such as kilograms for mass or meters for length.