MIST2090 MIDTERM STUDY GUIDE | 2025/2026
UPDATE | QUESTIONS AND ANSWERS | WITH
COMPLETE SOLUTION
The chapter opens with a discussion about the ability of artificial intelligence
technologies to play this board game.
a. Snakes and Ladders
b. Chess
c. Monopoly
d. None of these
e. Go Answer - Go
This "paradox" described in Ch. 1 is defined by the observation that humans
know a lot of things that they cannot easily communicate with one another.
a. Polanyi's Paradox
b. Occam's Razor
c. None of these
d. Crocodile Dilemma
e. Zeno's Paradox Answer - Polanyi's Paradox
Platform companies such as Alibaba, Uber, Airbnb, and Facebook are known for
being:
a. Asset heavy
b. Asset light Answer - Asset light
,General Electric used crowd-based resources in the production of this type of
appliance:
a. Dishwasher
b. None of these
c. Automobile
d. Icemaker
e. Refrigerator Answer - Icemaker
McAfee and Brynjolfsson reference a joke that the factory of the future will
have two employees: A human and _____.
a. None of these
b. a crowd
c. a cat
d. a dog
e. a machine Answer - a dog
This acronym refers to the opinion of a highly-paid decision maker in an
organization
a. HIPPO
b. PLATYPUS
c. MOOSE
d. RHINO
e. None of these Answer - HIPPO
McAfee and Brynjolfsson say that _____ is one of the earliest examples of fully-
automated decision making.
, a. None of these
b. airline management
c. credit scores
d. television advertising
e. auto manufacturing Answer - credit scores
True or False: Rules-based approaches to AI are broadly considered to be a
failure. Answer - true
The "_____ effect" describes goods that become more valuable to a user as the
total number of people who use that good grows larger.
a. bloom
b. real
c. network
d. crowd
e. None of these Answer - network
A defining property of "_____ goods" is that their demand curves interact very
closely with one another.
a. experience
b. None of these
c. fungible
d. complementary
e. information Answer - complementary
"_____ innovation" refers to the process of creating something new and
valuable not by starting from scratch but instead by putting together in new
UPDATE | QUESTIONS AND ANSWERS | WITH
COMPLETE SOLUTION
The chapter opens with a discussion about the ability of artificial intelligence
technologies to play this board game.
a. Snakes and Ladders
b. Chess
c. Monopoly
d. None of these
e. Go Answer - Go
This "paradox" described in Ch. 1 is defined by the observation that humans
know a lot of things that they cannot easily communicate with one another.
a. Polanyi's Paradox
b. Occam's Razor
c. None of these
d. Crocodile Dilemma
e. Zeno's Paradox Answer - Polanyi's Paradox
Platform companies such as Alibaba, Uber, Airbnb, and Facebook are known for
being:
a. Asset heavy
b. Asset light Answer - Asset light
,General Electric used crowd-based resources in the production of this type of
appliance:
a. Dishwasher
b. None of these
c. Automobile
d. Icemaker
e. Refrigerator Answer - Icemaker
McAfee and Brynjolfsson reference a joke that the factory of the future will
have two employees: A human and _____.
a. None of these
b. a crowd
c. a cat
d. a dog
e. a machine Answer - a dog
This acronym refers to the opinion of a highly-paid decision maker in an
organization
a. HIPPO
b. PLATYPUS
c. MOOSE
d. RHINO
e. None of these Answer - HIPPO
McAfee and Brynjolfsson say that _____ is one of the earliest examples of fully-
automated decision making.
, a. None of these
b. airline management
c. credit scores
d. television advertising
e. auto manufacturing Answer - credit scores
True or False: Rules-based approaches to AI are broadly considered to be a
failure. Answer - true
The "_____ effect" describes goods that become more valuable to a user as the
total number of people who use that good grows larger.
a. bloom
b. real
c. network
d. crowd
e. None of these Answer - network
A defining property of "_____ goods" is that their demand curves interact very
closely with one another.
a. experience
b. None of these
c. fungible
d. complementary
e. information Answer - complementary
"_____ innovation" refers to the process of creating something new and
valuable not by starting from scratch but instead by putting together in new
