Exam

a “given” or fact; a number, a statement, or an image.

Answer explanation

•Represents something (quantities, actions, and objects) in the real world

Raw materials in the production of information

data that have meaning within a context

•Data that has been processed value in the current or in the prospective actions or decisions of the recipient.

Information must pertain to the problem at hand.

partial information is often worse than no information.

erroneous information may lead to disastrous decisions.

decisions are often based upon the latest information available.

in business setting, the cost of obtaining information must be considered as one cost element involved in any decision.