COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Sensitivity analysis
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What-if analysis
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Goal-seeking analysis
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All of the above
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Detailed explanation-1: -Sensitivity analysis, what-if analysis, and market basket analysis are the three quantitative models typically used by a DSS.
Detailed explanation-2: -The main techniques that are mostly used in data-based DSS for analyzing the data are online analytical processing (OLAP) and data mining.
Detailed explanation-3: -Machine learning is one of the most common types of AI in development for business purposes today. Machine learning is primarily used to process large amounts of data quickly. These types of AIs are algorithms that appear to “learn” over time.
Detailed explanation-4: -Which of the following best defines decision-support systems (DSS)? Decision-support systems support management decisions that are unique and rapidly changing using advanced analytical methods.
Detailed explanation-5: -Consolidation, drill-down, and slice-and-dice are the three most common capabilities offered in an EIS.