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CS Professional · Artificial Intelligence, Data Analytics and Cyber Security - Laws and Practice · Management Information Systems - An Overview

A bank's MIS summarises thousands of daily transactions into a report showing branch-wise average deposits. Which statement correctly describes the relationship between the input and the output?

The transactions are data and the report is information. Processing, such as aggregating and averaging, turns raw transactional facts into meaningful output useful for decisions. Knowledge would need human understanding and experience applied to that information, not just electronic storage.

  1. AThe report is data because it contains numbers
  2. BThe transactions are information and the report is knowledge
  3. CThe transactions are data and the report is information produced by processingCorrect
  4. DThe report is knowledge because it is stored electronically

Explanation

Transactions are raw facts (data). Aggregation into branch-wise averages gives meaningful, decision-useful output, which is information. Knowledge requires further application of experience and understanding, not mere storage.

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