Question 1

The decision to approve a capital budget is an example of a(n)________ decision.

Accepted Answer

The answer of The decision to approve a capital budget...

Question 2

Businesses must deal with both structured and unstructured data from many different sources,including big data.

Accepted Answer

Businesses need to handle both structured (such as spreadsheets or databases) and unstructured (such as text or images) data from various sources, including big data.

Question 3

Most major league teams have embraced sabermetrics,the application of statistical analysis to baseball records to evaluate the performance of individual players.

Accepted Answer

Sabermetrics has become a widely accepted and utilized tool in the baseball industry, with many major league teams using it to analyze player performance and make strategic decisions.

Question 4

Simon's description of decision making consists of which four stages?

Accepted Answer

Simon's description of decision making consists of four stages: intelligence, design, choice, and implementation. Planning, financing, and implementation are too narrow or too specific.

Question 5

The type of decision that can made by following a definite procedure is called a(n)________ decision.

Accepted Answer

A structured decision is one in which a definite procedure can be followed, typically involving a clear set of criteria or rules. These decisions tend to be straightforward and routine, and often involve well-defined problems with objective solutions. Examples might include simple calculations or straightforward process-based decisions. In contrast, unstructured decisions are often more complex and subjective, involving uncertain or incomplete information, while semistructured decisions fall somewhere in between.

Question 6

Checking store inventory is an example of a(n)________ decision.

Accepted Answer

Checking store inventory is a structured decision because it involves processing a known quantity of information in a specified way, often through predefined procedures and rules.

Question 7

Forecasts,scenarios,models: These include the ability to perform linear forecasting,what-if scenario analysis,and analyze data using standard statistical tools.

Accepted Answer

Forecasts, scenarios, and models all involve the ability to analyze data and make predictions using statistical tools such as linear forecasting and what-if scenario analysis.

Question 8

Since all the major league teams use sabermetrics in one way or another to guide their decisions,the A's no longer have the competitive edge they once enjoyed when they were the only ones with this knowledge.

Accepted Answer

This is true. As many major league teams now utilize sabermetrics, the A's no longer have the exclusive advantage they once had in using this method to guide their decisions.

Question 9

Predictive analytics are being incorporated into numerous business intelligence applications for sales,marketing,finance,fraud detection,and health care

Accepted Answer

Predictive analytics are being widely used in various industries including sales, marketing, finance, fraud detection, and healthcare to gain insights and make informed decisions.

Question 10

Which type of decision is deciding whether to introduce a new product line?

Accepted Answer

Deciding whether to introduce a new product line is an example of an unstructured decision since it requires a significant amount of analysis, evaluation, and judgment to make the decision. There is no pre-established procedure or formula to follow in this type of decision.

Question 11

The classical model of management states that the actual behaviour of managers appears to be less systematic,more informal,less reflective,more reactive,and less well organized than the classical model would have us believe.

Accepted Answer

The answer of The classical model of management states that...

Question 12

The underlying foundation of business intelligence is a powerful database system that captures all the relevant data to operate the business.

Accepted Answer

Business intelligence relies on a high-quality database system that organizes and stores important data related to the business. This database is then utilized for reporting, analysis, and decision-making purposes.

Question 13

In informational role their they act as entrepreneurs by initiating new kinds of activities; they handle disturbances arising in the organization; they allocate resources to staff members who need them; and they negotiate conflicts and mediate between conflicting groups.

Accepted Answer

The description provided is for the decisional role, not the informational role. The decisional role involves activities like entrepreneurship, disturbance handling, resource allocation, and negotiation.

Question 14

When there is no well-understood or agreed-on procedure for making a decision,it is said to be

Accepted Answer

When there is no well-understood or agreed-on procedure for making a decision, it is considered unstructured.

Question 15

Which phase of decision making finds or recognizes a problem,need,or opportunity?

Accepted Answer

The intelligence phase is focused on assessing and understanding the situation to identify a problem, need, or opportunity. This may involve gathering information, analyzing data, and conducting research. The other phases (design, choice, and implementation) come after the problem has been recognized and involve devising a plan, making a decision, and carrying out the plan.

Question 16

Which type of decision is calculating gross pay for hourly workers?

Accepted Answer

Calculating gross pay for hourly workers is a repetitive and routine decision that follows a set of established rules and procedures, making it a structured decision.

Question 17

In their decisional role managers act as the nerve centres of their organizations,receiving the most concrete,up-to-date information and redistributing it to those who need to be aware of it.

Accepted Answer

In their informational role, not decisional role, managers act as the nerve centers of their organizations by receiving and redistributing information. The decisional role involves making decisions based on the information.

Question 18

Senior managers,middle managers,operational managers,and employees have different types of decisions but have the same information requirements.

Accepted Answer

While senior managers, middle managers, operational managers, and employees all have different levels of decision-making authority, their information needs are likely to vary according to their role in the organization. For example, senior managers may need more high-level strategic data, while employees may require more detailed and operational information to carry out specific tasks.

Question 19

The decisions involved in creating and producing a corporate intranet can be classified as ________ decisions.

Accepted Answer

Decisions involved in creating and producing a corporate intranet typically involve both structured and unstructured elements. Structured elements include deciding which software platform to use, determining the hardware needed, and defining user access levels. Unstructured elements may involve brainstorming ideas for content, design considerations, and determining the overall goals and objectives of the intranet. Therefore, the decisions can be classified as semistructured.

Question 20

Which of the following statements best describes the business value of improved decision making?

Accepted Answer

Improved decision making can result in numerous small daily decisions that affect efficiency, production, costs, and more, which can add up to large annual values. This can have a significant monetary value for the firm. The other options (A, C, and D) may be potential benefits of improved decision making, but they are not the best choice for describing its overall business value.

Quiz 12: Enhancing Decision Making

The decision to approve a capital budget is an example of a(n) ________ decision.