Week 4 (MC) PDF

**Blockchain and Business Analytics Concepts** **1. What are the "3 V's" that define Big Data?** A\) Value, Variety, Volume B\) Velocity, Volume, Value C\) Variety, Volume, Velocity D\) Veracity, Variety, Volume **Correct Answer**: C **2. Which of the following is NOT a key challenge in big d...

**Blockchain and Business Analytics Concepts** **1. What are the "3 V's" that define Big Data?** A\) Value, Variety, Volume B\) Velocity, Volume, Value C\) Variety, Volume, Velocity D\) Veracity, Variety, Volume **Correct Answer**: C **2. Which of the following is NOT a key challenge in big data management?** A\) Privacy concerns B\) Biased data sources C\) Lack of internet connectivity D\) High costs of infrastructure **Correct Answer**: C **3. Which type of analytics answers the question, "What should we do?"** A\) Descriptive Analytics B\) Predictive Analytics C\) Diagnostic Analytics D\) Prescriptive Analytics **Correct Answer**: D **4. What is the primary goal of big data management?** A\) Reducing internet usage B\) Ensuring data quality and accessibility C\) Increasing the velocity of data generation D\) Enhancing customer relationships **Correct Answer**: B **5. Which management theory treats knowledge and intangibles as critical for competitive advantage?** A\) Resource-Based View B\) Knowledge-Based View C\) Dynamic Capabilities View D\) Transaction Cost Theory **Correct Answer**: B **6. In Mintzberg et al.'s phases of decision-making, which phase focuses on defining the problem?** A\) Choice Phase B\) Design Phase C\) Recognition Phase D\) Adjustment Phase **Correct Answer**: C **7. Which of the following is a key characteristic of analytics competitors?** A\) Minimal predictive modeling B\) Enterprise-wide analytics applications C\) Siloed decision-making processes D\) Informal data usage **Correct Answer**: B **8. What is the main challenge associated with privacy in big data management?** A\) Distorting data for anonymization reduces accuracy. B\) Customers dislike data transparency. C\) It increases operational costs. D\) It limits data volume. **Correct Answer**: A **Blockchain Governance** **9. What does blockchain immutability mean?** A\) Data can be edited after validation. B\) Data cannot be deleted once recorded. C\) All data is encrypted. D\) Data is visible only to select participants. **Correct Answer**: B **10. In which blockchain governance mode is control centralized within one organization?** A\) Custodian B\) Chief C\) Consortium D\) Clan **Correct Answer**: B **11. Which governance mode involves shared control across organizations?** A\) Chief B\) Custodian C\) Consortium D\) Clan **Correct Answer**: C **12. What is a key drawback of the custodian governance mode?** A\) It excludes key participants. B\) It leads to slow decision-making. C\) It requires internal collaboration. D\) It is limited to intra-organizational use. **Correct Answer**: A **13. What is the primary advantage of the connecting strategy in blockchain governance?** A\) It reduces costs. B\) It increases market fragmentation. C\) It allows quick integration of new organizations. D\) It concentrates control. **Correct Answer**: C **14. Which blockchain governance strategy focuses on reducing external dependencies?** A\) Connecting B\) Isolating C\) Loosening D\) Tightening **Correct Answer**: B **Digital Governance** **15. Analog governance relies on which type of control?** A\) Decentralized B\) Distributed C\) Centralized D\) Algorithmic **Correct Answer**: C **16. Automated governance primarily uses which form of trust?** A\) Human-based trust B\) Reputation-based trust C\) Algorithmic trust D\) Hybrid trust **Correct Answer**: C **17. What is a characteristic of augmented governance?** A\) Fully decentralized decision-making B\) Omnilateral coordination C\) Actorithmic trust (human and algorithmic) D\) No human involvement **Correct Answer**: C **18. Which governance mechanism involves organizing and aligning tasks among participants?** A\) Trust B\) Coordination C\) Incentives D\) Control **Correct Answer**: B **19. What is the focus of "governance by algorithms"?** A\) Accountability for algorithm outcomes B\) Impact of automated systems on emotions and perceptions C\) Legal regulations for algorithm use D\) Manual override of algorithmic decisions **Correct Answer**: B **20. Which governance mechanism helps verify inputs and outputs?** A\) Control B\) Trust C\) Coordination D\) Incentives **Correct Answer**: A **Strategic Decisions in Governance** **21. Poor governance in digital relationships can lead to which issue?** A\) Increased transparency B\) Platform disintermediation C\) Better trust mechanisms D\) Higher transaction volume **Correct Answer**: B **22. Which company example highlights governance as a strategic advantage?** A\) Apple's privacy policies B\) Google's marketing practices C\) Facebook's data-sharing agreements D\) Amazon's supply chain processes **Correct Answer**: A **23. Loosening in blockchain governance allows for which benefit?** A\) Faster decision-making B\) Concentrated control C\) Open mutual decisions among participants D\) Reduced operational dependencies **Correct Answer**: C **Comparisons and Miscellaneous Concepts** **24. What distinguishes automated governance from augmented governance?** A\) Use of algorithmic trust B\) Bilateral coordination C\) Reliance on human oversight D\) Fully decentralized systems **Correct Answer**: D **25. Which incentive type is common in automated governance?** A\) Bureaucratic B\) Cybernetic C\) Contract-based D\) Human-centric **Correct Answer**: B **26. What does augmented governance aim to balance?** A\) Centralization and automation B\) Trust and transparency C\) Human and algorithmic processes D\) Compliance and rigidity **Correct Answer**: C **27. Which challenge is specific to digital governance compared to analog governance?** A\) Allocating tasks B\) Mitigating cyberthreats C\) Dispute resolution D\) Performance measurement **Correct Answer**: B **28. What is the key determinant for selecting governance models in digital networks?** A\) Cost efficiency B\) Trust mechanism type C\) Level of transactivity D\) Degree of centralization **Correct Answer**: C **29. How do consortium governance modes ensure data security?** A\) Centralized control by one actor B\) Consensus-based decision-making C\) Algorithmic trust mechanisms D\) Internal coordination only **Correct Answer**: B **30. What is a key feature of automated coordination?** A\) Routine task division B\) Omnilateral task engagement C\) Human-based decision-making D\) Bilateral task assignment **Correct Answer**: B