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.

Question

Quizplus · Accepted Answer

The value of information can be determined by calculating the benefits associated with obtaining the information and subtracting the cost of producing it. This takes into account both its usefulness and relevance, as well as any impact it may have on optimizing the value chain. Therefore, option C is the best choice.

The Value of Information Can Best Be Determined by