Discuss the seven characteristics of useful information
What will be an ideal response?
Answer: The seven characteristics of useful information are: relevant, reliable, complete, timely, understandable, verifiable and accessible. These characteristics are qualities that information should possess to be useful in a business environment. Briefly stated, in order for information to be useful it must be: 1) relevant, meaning that it reduces uncertainty and adds to the decision-making process; 2) reliable information is information that is free from error, and is accurate in its nature; 3) complete information is information that does not omit any important data, facts, or aspects about events or activities; 4) information is timely when it is fully available to enable the decision-making process to proceed; 5) understandable information must be both in an intelligible and useful format; 6) information is considered verifiable if two people, acting independently of each other, produce the same information or the same results. 7) Information is accessible if it is available to users when they need it and in a format they can use.
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Which one of the following is the "leanest" communication medium?
A) Podcasts B) Posters and signs C) Telephone conversations D) Multimedia presentations
Why does the U.S. Bureau of Labor Statistics evaluate the CPI's "market basket"?
A) to ensure that it reflects current trends in the production of goods and services B) to ensure that it reflects current consumer spending habits C) to ensure that it reflects current wholesale spending habits D) to ensure that it reflects current consumer demand E) to ensure that it reflects current wholesale resource costs