Question 1

Which judgment bias is the tendency to provide estimates based on the initial starting estimate, regardless of its accuracy?

Accepted Answer

A) the hasty generalization fallacy 
B) the base rate fallacy 
C) anchoring and adjustment 
D) availability 
E) representativeness 
A) the hasty generalization fallacy 
B) the base rate fallacy 
C) anchoring and adjustment 
D) availability 
E) representativeness C

Question 2

What are some useful tactics for avoiding common decision biases?

Accepted Answer

Some useful tactics for avoiding common decision biases are:Confidence estimates: This tactic of attaching an estimate of confidence to our beliefs is useful for curbing our overconfidence bias.Trial-and-error calibration: If you want to improve your success rate and reduce failure tomorrow, you must learn from your successes and failures today. This is a familiar, but underutilized, method for improving problem solving.Healthy skepticism: Approaching all decisions and presented evidence with healthy skepticism is another simple but powerful tool for avoiding common decision biases.

Question 3

A shirt manufacturer lost 45 percent of its market share last year. The CEO put together a committee to find out what was wrong. He included office staff and vendors. He did not include any current or former customers. Did the CEO make a mistake?

Accepted Answer

A) Yes. He did not include key stakeholders. 
B) No. That action would slow down the process. 
C) Yes. He failed to find the facts. 
D) No. That action would narrow the focus. 
E) Yes. He should have hired an outside consultant. 
A) Yes. He did not include key stakeholders. 
B) No. That action would slow down the process. 
C) Yes. He failed to find the facts. 
D) No. That action would narrow the focus. 
E) Yes. He should have hired an outside consultant. A

Question 4

Which of the below is a method used to help illuminate tradeoffs by increasing debate and by exploring a problem from all angles?

Accepted Answer

A) brainstorming 
B) brainwriting 
C) the nominal group technique 
D) the Delphi technique 
E) devil's advocate 
A) brainstorming 
B) brainwriting 
C) the nominal group technique 
D) the Delphi technique 
E) devil's advocate

Question 5

Mental models are ________ that sustain current systems.

Accepted Answer

A) linear learning functions 
B) traditional bureaucratic processes 
C) prevailing assumptions, beliefs, and values 
D) nonlinear learning patterns 
E) standard needs, goals, and expectations 
A) linear learning functions 
B) traditional bureaucratic processes 
C) prevailing assumptions, beliefs, and values 
D) nonlinear learning patterns 
E) standard needs, goals, and expectations

Question 6

Zack arrived late for a meeting this morning because there was a 20-car pile-up on the beltway. Ryan, his manager, assumed Zack overslept because he partied too much last night. Which of the following statements is most accurate?

Accepted Answer

A) Ryan committed a fundamental attribution error. 
B) Zack committed a fundamental attribution error. 
C) Zack used the ladder of inference. 
D) Zack used the self-serving bias. 
E) Ryan used the self-serving bias. 
A) Ryan committed a fundamental attribution error. 
B) Zack committed a fundamental attribution error. 
C) Zack used the ladder of inference. 
D) Zack used the self-serving bias. 
E) Ryan used the self-serving bias.

Question 7

The first step in the postimplementation phase of problem solving is to examine whether the decision was truly successful and continues to be the right solution.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following causes more deaths per year in the United States, suicide or homicide? Most people believe homicides cause more deaths, but in fact suicides lead to more deaths by a ratio of more than 2 to 1. If you got this wrong, you were a victim of

Accepted Answer

A) satisficing. 
B) escalation of commitment. 
C) hasty generalization. 
D) the representativeness bias. 
E) the availability bias. 
A) satisficing. 
B) escalation of commitment. 
C) hasty generalization. 
D) the representativeness bias. 
E) the availability bias.

Question 9

The ________ occurs when we attribute personal successes to internal causes and personal failures to external causes.

Accepted Answer

A) anchoring and adjustment bias 
B) fundamental attribution error 
C) self-serving bias 
D) escalation of commitment error 
E) availability bias 
A) anchoring and adjustment bias 
B) fundamental attribution error 
C) self-serving bias 
D) escalation of commitment error 
E) availability bias

Question 10

The ________ is an idea generation method that allows you to sort the major aspects of the problem into themes or categories.

Accepted Answer

A) True 
 B)False

Question 11

Give two examples of the representative bias that arise from people's misconceptions about chance.

Accepted Answer

A classic example of the representative

Question 12

Give two examples of the judgment error of anchoring and adjustment.

Accepted Answer

Two examples of the judgment error of an

Question 13

Which of the following is not a good defense against decision bases?

Accepted Answer

A) Do not jump to conclusions. 
B) Do not base your conclusion only on your own experience. 
C) Do not look to support your case. 
D) Look for nonsupporting evidence. 
E) Look for causality in correlations. 
A) Do not jump to conclusions. 
B) Do not base your conclusion only on your own experience. 
C) Do not look to support your case. 
D) Look for nonsupporting evidence. 
E) Look for causality in correlations.

Question 14

I am left-handed and smart. All left-handers must be smart. This illustrates

Accepted Answer

A) adjustment. 
B) hasty generalization. 
C) satisficing. 
D) the availability bias. 
E) anchoring. 
A) adjustment. 
B) hasty generalization. 
C) satisficing. 
D) the availability bias. 
E) anchoring.

Question 15

"If we select Option A, there's a 90% chance of success," versus "if we select Option A there is a 10% chance of failure" is a good example of

Accepted Answer

A) framing. 
B) equifinality. 
C) bounded rationality. 
D) the representativeness heuristic. 
E) the availability heuristic. 
A) framing. 
B) equifinality. 
C) bounded rationality. 
D) the representativeness heuristic. 
E) the availability heuristic.

Question 16

You are obsessed with your favorite football team. However, because they have won seven games in a row, you think it too improbable that they will win the eighth game, and so you bet against them. This illustrates

Accepted Answer

A) hasty generalization. 
B) the availability bias. 
C) adjustment. 
D) anchoring. 
E) the gamblers fallacy. 
A) hasty generalization. 
B) the availability bias. 
C) adjustment. 
D) anchoring. 
E) the gamblers fallacy.

Question 17

Amy works as a junior HR executive at a retail chain. She has been given the responsibility of organizing walk-in interviews on the day before Thanksgiving. She turns up one hour late that morning because of the unusually high traffic. You are her boss and are trying to determine why she came in late. What would your response look like?

Accepted Answer

The fundamental attribution error deals

Question 18

Because of a boom in technology stocks in the late 1990s, even novice investors experience huge growth in their portfolios. As technology stocks kept going up, many investors believe that their successes was due to their stock-picking ability rather than unsustainable growth in one sector of the economy. The result for many was huge losses. This scenario illustrates the concept of

Accepted Answer

A) availability bias. 
B) representativeness bias. 
C) anchoring-and-adjustment bias. 
D) confirmation bias. 
E) overconfidence bias. 
A) availability bias. 
B) representativeness bias. 
C) anchoring-and-adjustment bias. 
D) confirmation bias. 
E) overconfidence bias.

Question 19

Intuition should be totally discounted in problem solving in the workplace.

Accepted Answer

A) True 
 B)False

Question 20

Carl, a corporate recruiter, advises his job applicants to start negotiating salaries from a higher bracket. He suggests this, knowing that the applicant will end up with a higher salary if the hiring employer is susceptible to the judgment error of

Accepted Answer

A) availability. 
B) representativeness. 
C) anchoring and adjustment. 
D) confirmation. 
E) overconfidence. 
A) availability. 
B) representativeness. 
C) anchoring and adjustment. 
D) confirmation. 
E) overconfidence.

Which judgment bias is the tendency to provide estimates based on the initial starting estimate, regardless of its accuracy?

What are some useful tactics for avoiding common decision biases?

A shirt manufacturer lost 45 percent of its market share last year. The CEO put together a committee to find out what was wrong. He included office staff and vendors. He did not include any current or former customers. Did the CEO make a mistake?

Which of the below is a method used to help illuminate tradeoffs by increasing debate and by exploring a problem from all angles?

Mental models are ________ that sustain current systems.

Zack arrived late for a meeting this morning because there was a 20-car pile-up on the beltway. Ryan, his manager, assumed Zack overslept because he partied too much last night. Which of the following statements is most accurate?

The first step in the postimplementation phase of problem solving is to examine whether the decision was truly successful and continues to be the right solution.

Which of the following causes more deaths per year in the United States, suicide or homicide? Most people believe homicides cause more deaths, but in fact suicides lead to more deaths by a ratio of more than 2 to 1. If you got this wrong, you were a victim of

The ________ occurs when we attribute personal successes to internal causes and personal failures to external causes.

The ________ is an idea generation method that allows you to sort the major aspects of the problem into themes or categories.

Give two examples of the representative bias that arise from people's misconceptions about chance.

Give two examples of the judgment error of anchoring and adjustment.

Which of the following is not a good defense against decision bases?

I am left-handed and smart. All left-handers must be smart. This illustrates

"If we select Option A, there's a 90% chance of success," versus "if we select Option A there is a 10% chance of failure" is a good example of

You are obsessed with your favorite football team. However, because they have won seven games in a row, you think it too improbable that they will win the eighth game, and so you bet against them. This illustrates

Intuition should be totally discounted in problem solving in the workplace.

Carl, a corporate recruiter, advises his job applicants to start negotiating salaries from a higher bracket. He suggests this, knowing that the applicant will end up with a higher salary if the hiring employer is susceptible to the judgment error of

Ob: What It Is and Why It Matters

The Central Role of People in Organizations

Individual Differences

Workplace Stress

Organizational Ethics

Persuasive Communication

Motivation

Conflict Negotiation

Power Influence

Leadership

Team Effectiveness

Culture Diversity

Organizational Structure Design

Making Change

Filters

Exam 5: Problem Solving

Which judgment bias is the tendency to provide estimates based on the initial starting estimate, regardless of its accuracy?

What are some useful tactics for avoiding common decision biases?

A shirt manufacturer lost 45 percent of its market share last year. The CEO put together a committee to find out what was wrong. He included office staff and vendors. He did not include any current or former customers. Did the CEO make a mistake?

Which of the below is a method used to help illuminate tradeoffs by increasing debate and by exploring a problem from all angles?

Mental models are ________ that sustain current systems.

Zack arrived late for a meeting this morning because there was a 20-car pile-up on the beltway. Ryan, his manager, assumed Zack overslept because he partied too much last night. Which of the following statements is most accurate?

The first step in the postimplementation phase of problem solving is to examine whether the decision was truly successful and continues to be the right solution.

Which of the following causes more deaths per year in the United States, suicide or homicide? Most people believe homicides cause more deaths, but in fact suicides lead to more deaths by a ratio of more than 2 to 1. If you got this wrong, you were a victim of

The ________ occurs when we attribute personal successes to internal causes and personal failures to external causes.

The ________ is an idea generation method that allows you to sort the major aspects of the problem into themes or categories.

Give two examples of the representative bias that arise from people's misconceptions about chance.

Give two examples of the judgment error of anchoring and adjustment.

Which of the following is not a good defense against decision bases?

I am left-handed and smart. All left-handers must be smart. This illustrates

"If we select Option A, there's a 90% chance of success," versus "if we select Option A there is a 10% chance of failure" is a good example of

You are obsessed with your favorite football team. However, because they have won seven games in a row, you think it too improbable that they will win the eighth game, and so you bet against them. This illustrates

Intuition should be totally discounted in problem solving in the workplace.

Carl, a corporate recruiter, advises his job applicants to start negotiating salaries from a higher bracket. He suggests this, knowing that the applicant will end up with a higher salary if the hiring employer is susceptible to the judgment error of

Ob: What It Is and Why It Matters

The Central Role of People in Organizations

Individual Differences

Workplace Stress

Organizational Ethics

Persuasive Communication

Motivation

Conflict Negotiation

Power Influence

Leadership

Team Effectiveness

Culture Diversity

Organizational Structure Design

Making Change

Filters