Exam 11: Decision Making

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One is most likely to see a program used to make a(n)________ decision.

(Multiple Choice)
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Managers who exhibit bounded rationality

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Managers must often rely upon others when making decisions and solving problems.At what stage of the rational decision-making process does reliance upon others often cause special problems?

(Multiple Choice)
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What company is strongly identified with the use of analytics?

(Multiple Choice)
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Analytics and big data are other facets of evidence-based management.

(True/False)
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Crowdsourcing involves outsourcing aspects of a decision process to a large collection of experts.

(True/False)
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Groupthink is a common phenomenon when groups are riddled with conflict and dissension.

(True/False)
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According to the groupthink phenomenon, group members who are overconfident and willing to assume great risks are suffering from

(Multiple Choice)
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Google and Facebook are two companies that have profited greatly from applying sophisticated ________ to big data to facilitate decisions about targeted advertising.

(Short Answer)
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Tendencies to acquire and process information in an error-prone way are known as ________.

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Evidence-based management has its roots in

(Multiple Choice)
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Which of the following is NOT a difficulty that can result from bounded rationality in problem identification?

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Escalation of commitment to a failing course of action

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Mood has its greatest impact on uncertain, ambiguous decisions.

(True/False)
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For a(n)________ problem, the existing and desired states are clear, and it is obvious how to get from one to another.

(Short Answer)
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If you worked in an organization that had to make an important decision and the information required to make the decision was not available, which of the following would be an appropriate response?

(Multiple Choice)
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Both ill-structured and well-structured problems can be solved with programmed problem-solving methods.

(True/False)
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The three Vs of big data are volume, velocity, and variety.

(True/False)
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Receiving more information than is necessary to make an effective decision puts a person in a state of ________.

(Short Answer)
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Crowdsourcing is meant to capitalize on the merits of group decision making.

(True/False)
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