1. In your own words, describe how information reduces risk when you make a personal or work-related decision.
   
   
2. What are information rules? How do they simplify the process of making decisions?
   
   
3. What is the difference between data and information? Give one example of accounting data and one example of accounting information.
   
   
4. What is the difference between qualitative research and quantitative research?
   
   
5. Describe the methods used to conduct qualitative research and quantitative research.
   
   
6. How do the information requirements of managers differ by management area?
   
   
7. Why must a management information system (MIS) be tailored to the needs of the organization it serves?
   
   
8. List five functions of an MIS.
   
   
9. What are the differences among the mean, median, and mode of a set of data? How can a few extremely small or large numbers affect the mean?
   
   
10. What are the components of a typical business report?
    
    
11. Explain the differences between the Internet and an intranet. What types of information does each of these networks provide?
    
    
12. Why is a common language or protocol necessary for the Internet to operate properly?
    
    
13. How can a web search engine such as Yahoo!, Alta Vista, or Google help you to find information on a business topic such as interest rates or the consumer price index?
    
    
14. What factors should be considered when a firm is developing a web page?
    
    
15. How do business firms use groupware to encourage collaborative learning systems?
    
    
16. Describe how the Internet and software can help a firm assist sales representatives, train and recruit employees, and track expenses.
    
    
17. Describe how businesses use database management programs, graphics programs, spreadsheet programs, word-processing programs, desktop publishing programs, and accounting programs.