Question 1

In his position as administrative manager of Crumble Plastics Company, Kevin Crumble's primary concern is

Accepted Answer

As an administrative manager, Kevin Crumble's primary concern is the overall management of the organization, which encompasses all aspects of the company's operations. While cost, legislation, promotions, and financial ratios are important considerations, they are all subcategories that fall under the overarching responsibility of managing the organization as a whole.

Question 2

A measure that summarizes a particular characteristic of a group of numbers is called a(n) _____.

Accepted Answer

A statistic is a measure that summarizes a particular characteristic of a group of numbers. An array is simply a list of numbers in order, a frequency distribution is a table or graph that shows how often each value or range of values occurs in a dataset, an arithmetic mean is a specific type of statistic that represents the average of a group of numbers, and a data bank is a collection of data that can be used for analysis or reference.

Question 3

In gathering the data for its management information system, Clark Stores, Inc., used company records, reports from managers' meetings, and suppliers.How many of its sources were external data sources?

Accepted Answer

Suppliers are the only external data source among the ones listed. Company records and reports from managers' meetings are internal sources.

Question 4

Which of the following statements is incorrect?

Accepted Answer

This statement is incorrect because different organizations have different needs and therefore require different types and levels of MIS systems. A small firm may only require a basic MIS system, while a large firm may require a more complex and specialized system. It is important to tailor the MIS system to the specific needs of the organization it serves.

Question 5

Holly is often assigned the task of extracting information from her company's MIS and putting it into a particular format that is useful to the management.Holly is performing _____.

Accepted Answer

Holly is extracting information from her company's management information system (MIS), which involves processing data in order to extract and present it in a useful format for management. This is data processing. The other choices (statistics, automatic/manual updating, data collection) do not accurately describe what Holly is doing.

Question 6

Allen, a manager at a financial services company, uses information from The Wall Street Journal to guide his actions as a manager.In this scenario, The Wall Street Journal serves as a(n) _____.

Accepted Answer

The Wall Street Journal is an external source of data for Allen, as it is a publication that provides information and analysis on financial news and events happening outside of his company.

Question 7

Problems in collecting data include

Accepted Answer

Collecting data can incur significant costs, and mistakes or errors can occur during data collection that can compromise accuracy. Therefore, cost, mistakes, and accuracy are the most significant problems in collecting data.

Question 8

Human resources managers need management information in all except which of the following areas?

Accepted Answer

While financial ratios may be important for the overall financial management of the company, they are not directly related to the responsibilities of human resources managers. All of the other options directly impact the responsibilities of human resources managers, from determining wage levels and benefits packages to navigating employment practices legislation and union activities, as well as understanding the firm's growth plans in order to make strategic staffing decisions.

Question 9

All past and current data that may be useful in managing the firm is included in the _____.

Accepted Answer

All past and current data that may be useful in managing the firm is included in the data bank. A computer system, company network, statistics collection, and marketing information system are all components that can be part of the data bank, but the data bank itself is the repository for all useful data.

Question 10

All of the following except which are functions of a management information system?

Accepted Answer

Printing data is not a function of a management information system. The other options (collecting data, processing stored data into information, storing and updating data, and presenting information to users) are all essential functions of a management information system.

Question 11

The part of a business report that describes the problem to be studied is the _____.

Accepted Answer

The introduction is typically where the problem statement is presented and the need for further analysis is established. The statistical section, body of the report, recommendations, and conclusions all come later in the report and build upon the problem statement presented in the introduction.

Question 12

Most data gathered for an MIS come from _____.

Accepted Answer

Most data for a management information system (MIS) come from internal sources within the organization, such as transactional data, employee information, and financial records. While external sources such as customers and data firms may also provide useful information, they are not the primary source of data for an MIS.

Question 13

All of the following would be examples of internal information sources except company _____.

Accepted Answer

Internal information sources are those that originate within the company or organization, such as records, reports, and meetings. Competitors are external to the company and therefore not an internal information source. Managers may be an internal information source depending on their role within the company.

Question 14

Karen has been assigned to find data about the effectiveness of past promotional campaigns for the company.Within what source of the company's MIS is she likely to find the information she needs?

Accepted Answer

Sales reports are likely to contain information on the effectiveness of past promotional campaigns as they track the company's sales and revenue during those campaigns.

Question 15

At every Wal-Mart store, when a customer purchases a product, the system immediately reflects that purchase in a central computer and calculates the new inventory level.This system is

Accepted Answer

The system at Wal-Mart stores is immediately updated when a customer purchases a product, indicating that the system is automated and automatically updated.

Question 16

Which of the following is not one of the sections included in a typical business report?

Accepted Answer

Analysis is typically part of the body of the report, not a separate section.

Question 17

The following quotation would most likely be found in the ____ of a business report: "This report evaluates the significant decrease in sales experienced in the previous quarter and incorporates the results of surveys and interviews with customers, management, and economists."

Accepted Answer

The quotation provides an overview of the report's purpose and scope, which is typically found in the introduction section of a business report.

Question 18

Marketing managers need information in all except which of the following areas?

Accepted Answer

While marketing managers do need financial information to make informed decisions about budgets and spending, the coordination of financial resources would typically fall under the responsibility of a financial manager or CFO.

Question 19

Most business data is in the form of _____.

Accepted Answer

Most business data is quantitative in nature and can be represented in the form of numbers such as sales figures, profit margins, and customer counts. While some qualitative descriptors may also be present in the data, they are often accompanied by numerical data to provide context and meaning. Statistics may also be used to analyze and interpret numerical business data, but the data itself is predominantly numerical. Verbal information may be present in written reports or customer feedback, but it must be converted into numerical form to be analyzed and used in decision-making. Modes refer to the most frequently occurring value in a data set and are not a form of business data.

Question 20

Collection of the data needed to establish an MIS results in _____.

Accepted Answer

A data bank is a collection of data that is organized for easy access, management, and updating, which is essential for establishing a Management Information System (MIS).

Quiz 14: Understanding Information and E-Business