BFF5902 Introduction to Risk PrinciplesSelf-Study Questions Week 2Question 1a) Explain the difference between data, information and knowledge. How does “noise” cause errors? Provide examples to illustrate.b) What are the two main traditions for obtaining knowledge? Compare their differences and strength and weaknesses.c) What are the three possible strategies to address the knowledge gap in business? Provide and discuss business related examples.
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Business,Optimism bias,business related examples,personal qualitative level