Question 1

A(n) _____ occurs when focusing only on information that validates a decision already made.

Accepted Answer

A)  confirmation error 
B)  escalating commitment 
C)  lack-of-participation error 
D)  anchoring and adjustment bias 
E)  framing error 
A)  confirmation error 
B)  escalating commitment 
C)  lack-of-participation error 
D)  anchoring and adjustment bias 
E)  framing error

Question 2

Bao focuses on facts and tends to take a realistic approach to problem solving. She emphasizes analysis. She is an open communicator, is responsive to feelings, and values human relations. These characteristics show that Bao is a(n) _____.

Accepted Answer

A)  sensation thinker 
B)  intuitive feeler 
C)  intuitive thinker 
D)  sensation feeler 
E)  idealistic thinker 
A)  sensation thinker 
B)  intuitive feeler 
C)  intuitive thinker 
D)  sensation feeler 
E)  idealistic thinker

Question 3

Data ___ is the process of analyzing data for patterns, predictions, and insights useful for decision makers.

Accepted Answer

The answer of Data ___ is the process of analyzing...

Question 4

A decision-making process ends with the:

Accepted Answer

A)  choice of a preferred course of action. 
B)  evaluation of implemented solutions. 
C)  implementation of the decision. 
D)  evaluation of alternative solutions. 
E)  generation of alternative solutions. 
A)  choice of a preferred course of action. 
B)  evaluation of implemented solutions. 
C)  implementation of the decision. 
D)  evaluation of alternative solutions. 
E)  generation of alternative solutions.

Question 5

Public information is the information gathered from stakeholders and the external environment.

Accepted Answer

A) True 
 B)False

Question 6

A confirmation error occurs when focusing only on information that is consistent with a decision already made.

Accepted Answer

A) True 
 B)False

Question 7

_____ is failure to involve in a decision the persons whose support is needed to implement it.

Accepted Answer

A)  Framing error 
B)  Lack-of-participation error 
C)  Bounded rationality 
D)  Confirmation error 
E)  Strategic opportunism 
A)  Framing error 
B)  Lack-of-participation error 
C)  Bounded rationality 
D)  Confirmation error 
E)  Strategic opportunism

Question 8

In order for big data to become really useful in helping to solve critical problems and pursue attractive opportunities, it should satisfy Five "Vs". List and describe these Five "Vs".

Accepted Answer

1) Volume - the data must be available i

Question 9

The term _____ describes the systematic evaluation and analysis of information to make decisions.

Accepted Answer

A)  tactics 
B)  assay 
C)  heuristics 
D)  analytics 
E)  strategy 
A)  tactics 
B)  assay 
C)  heuristics 
D)  analytics 
E)  strategy

Question 10

Big data can be mined using basic mathematical and analytical techniques.

Accepted Answer

A) True 
 B)False

Question 11

Julie is a manager who completely trusts one of her employee's decisions due to his previous good performances. She always looks for positives in his decisions rather than analyzing the employee's decisions in a rational manner. She generally tends to neglect the drawbacks in his decision making. This type of error in decision making is called _____.

Accepted Answer

A)  anchoring and adjustment bias 
B)  framing error 
C)  confirmation error 
D)  representativeness bias 
E)  lack-of-participation error 
A)  anchoring and adjustment bias 
B)  framing error 
C)  confirmation error 
D)  representativeness bias 
E)  lack-of-participation error

Question 12

When a problem is evaluated and resolved in the positive or negative context in which it is perceived, it is likely to result in a framing error.

Accepted Answer

A) True 
 B)False

Question 13

Team creativity skills are most likely to blossom when buoyed by management support and the right organizational culture.

Accepted Answer

A) True 
 B)False

Question 14

Problem solvers differ from problem seekers as problem solvers:

Accepted Answer

A)  actively process information and constantly look for problems to solve. 
B)  are willing to make decisions and try to solve problems, but only when forced by the situation. 
C)  anticipate performance threats and opportunities and take action to gain advantage. 
D)  are passive in information gathering, making decisions or dealing with problems. 
E)  ignore information that would otherwise signal the presence of a performance opportunity threat. 
A)  actively process information and constantly look for problems to solve. 
B)  are willing to make decisions and try to solve problems, but only when forced by the situation. 
C)  anticipate performance threats and opportunities and take action to gain advantage. 
D)  are passive in information gathering, making decisions or dealing with problems. 
E)  ignore information that would otherwise signal the presence of a performance opportunity threat.

Question 15

Which of the following describes decision making with complete information?

Accepted Answer

A)  Classical decision model 
B)  Satisficing decision 
C)  Bounded rationality 
D)  Behavioral decision model 
E)  Cognitive limitation 
A)  Classical decision model 
B)  Satisficing decision 
C)  Bounded rationality 
D)  Behavioral decision model 
E)  Cognitive limitation

Question 16

Priya, a manager at an IT firm, likes to focus on facts when making decisions. When she faces a well-defined problem and has all the information regarding the possible action alternatives as well as their consequences, she is most likely to make a(n) _____ decision that gives the best possible solution for a problem.

Accepted Answer

A)  intuitive 
B)  optimizing 
C)  satisficing 
D)  heuristic 
E)  experimental 
A)  intuitive 
B)  optimizing 
C)  satisficing 
D)  heuristic 
E)  experimental

Question 17

Business intelligence taps ____ to extract and report data in organized ways that are helpful to decision makers.

Accepted Answer

The answer of Business intelligence taps ____ to extract and...

Question 18

Nicole is trying to solve a problem that has resulted in defective products. She has understood that the problem is due to a technical failure and has realized that it has to be corrected immediately to avoid further loss. The next step in Nicole's decision-making process after collecting all the details regarding the problem is to:

Accepted Answer

A)  choose a preferred course of action. 
B)  evaluate the implemented solution. 
C)  implement the decision. 
D)  define the problem. 
E)  generate and evaluate alternative solutions. 
A)  choose a preferred course of action. 
B)  evaluate the implemented solution. 
C)  implement the decision. 
D)  define the problem. 
E)  generate and evaluate alternative solutions.

Question 19

A manager who is choosing the first acceptable alternative that comes to his or her attention while solving a problem is making an optimizing decision.

Accepted Answer

A) True 
 B)False

Question 20

Analytical _____ is the ability to evaluate and analyze information to make actual decisions and solve real problems.

Accepted Answer

The answer of Analytical _____ is the ability to evaluate...

A(n) _____ occurs when focusing only on information that validates a decision already made.

Bao focuses on facts and tends to take a realistic approach to problem solving. She emphasizes analysis. She is an open communicator, is responsive to feelings, and values human relations. These characteristics show that Bao is a(n) _____.

Data ___ is the process of analyzing data for patterns, predictions, and insights useful for decision makers.

A decision-making process ends with the:

Public information is the information gathered from stakeholders and the external environment.

A confirmation error occurs when focusing only on information that is consistent with a decision already made.

_____ is failure to involve in a decision the persons whose support is needed to implement it.

In order for big data to become really useful in helping to solve critical problems and pursue attractive opportunities, it should satisfy Five "Vs". List and describe these Five "Vs".

The term _____ describes the systematic evaluation and analysis of information to make decisions.

Big data can be mined using basic mathematical and analytical techniques.

When a problem is evaluated and resolved in the positive or negative context in which it is perceived, it is likely to result in a framing error.

Team creativity skills are most likely to blossom when buoyed by management support and the right organizational culture.

Problem solvers differ from problem seekers as problem solvers:

Which of the following describes decision making with complete information?

Business intelligence taps ____ to extract and report data in organized ways that are helpful to decision makers.

A manager who is choosing the first acceptable alternative that comes to his or her attention while solving a problem is making an optimizing decision.

Analytical _____ is the ability to evaluate and analyze information to make actual decisions and solve real problems.

Management, Managers, and Careers

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Technology, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Planning Processes and Techniques

Control Processes and Systems

Strategy and Strategic Management

Organization Structures

Organizational Culture and Change

Human Resource Management

Leading and Leadership Development

Individual Behavior

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Filters

Exam 7: Data and Decision Making

A(n) _____ occurs when focusing only on information that validates a decision already made.

Bao focuses on facts and tends to take a realistic approach to problem solving. She emphasizes analysis. She is an open communicator, is responsive to feelings, and values human relations. These characteristics show that Bao is a(n) _____.

Data ___ is the process of analyzing data for patterns, predictions, and insights useful for decision makers.

A decision-making process ends with the:

Public information is the information gathered from stakeholders and the external environment.

A confirmation error occurs when focusing only on information that is consistent with a decision already made.

_____ is failure to involve in a decision the persons whose support is needed to implement it.

In order for big data to become really useful in helping to solve critical problems and pursue attractive opportunities, it should satisfy Five "Vs". List and describe these Five "Vs".

The term _____ describes the systematic evaluation and analysis of information to make decisions.

Big data can be mined using basic mathematical and analytical techniques.

When a problem is evaluated and resolved in the positive or negative context in which it is perceived, it is likely to result in a framing error.

Team creativity skills are most likely to blossom when buoyed by management support and the right organizational culture.

Problem solvers differ from problem seekers as problem solvers:

Which of the following describes decision making with complete information?

Business intelligence taps ____ to extract and report data in organized ways that are helpful to decision makers.

A manager who is choosing the first acceptable alternative that comes to his or her attention while solving a problem is making an optimizing decision.

Analytical _____ is the ability to evaluate and analyze information to make actual decisions and solve real problems.

Management, Managers, and Careers

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Technology, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Planning Processes and Techniques

Control Processes and Systems

Strategy and Strategic Management

Organization Structures

Organizational Culture and Change

Human Resource Management

Leading and Leadership Development

Individual Behavior

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Filters