Discuss the differences between data and information
What will be an ideal response?
Data consists of raw facts, such as figures, strings, images, etc. Most of the time, data itself is not very meaningful until we add some additional information, such as descriptive fields as well as some structure. For example, if one were looking at set of student grades with just course numbers and a semester key, this might not be very useful. If we were to add in some additional information, such as course title, semester and year, then we would have information.
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Blitch Products, Inc., has a Screen Division that manufactures and sells a number of products, including a standard screen that could be used by another division in the company, the Home Security Division, in one of its products. Data concerning that screen appear below: Capacity in units 45,000Selling price to outside customers$53Variable cost per unit$26Fixed cost per unit (based on capacity)$16?The Home Security Division is currently purchasing 2,000 of these screens per year from an overseas supplier at a cost of $50 per screen.?Assume that the Screen Division has enough idle capacity to handle all of the Home Security Division's needs. Does there exist a transfer price that would make both the Screen and Home Security Division financially better off than if the Home
Security Division were to continue buying its screens from the outside supplier? A. No, the selling division's price to outside customers is higher than the price that the buying division has to pay its outside supplier. B. Yes, the minimum transfer price that the selling division should be willing to accept is less than the maximum transfer price that the buying division would accept. C. Yes, both divisions are always better off regardless of whether the selling division has enough idle capacity to handle all of the buying division's needs. D. The answer cannot be determined from the information that has been provided.
Spamming is the sending of unsolicited multiple commercial electronic messages.
Answer the following statement true (T) or false (F)
The certainty equivalent for risk-averse people who buy insurance is the
A) maximum loss they may sustain. B) expected loss they may sustain. C) insurance premium they pay. D) profit the insurance company earns.
The Used Car Rule requires dealers to give consumers the following information except:
a. a statement about any warranty terms offered with the vehicle b. a statement about known defects with the vehicle c. a warning that oral promises may not be enforceable d. a suggestion that the consumer get an independent inspection of the vehicle e. all of the other choices are required