Question 1

Explain the difference between "seizing" and "freezing."

Accepted Answer

Seizing is the tendency to attain closur

Question 2

Which actions do not improve managerial judgment?

Accepted Answer

A) Unseizing 
B) Seizing 
C) Unfreezing 
D) Considering a wider range of possibilities 
E) All of the above improve managerial judgment. 
A) Unseizing 
B) Seizing 
C) Unfreezing 
D) Considering a wider range of possibilities 
E) All of the above improve managerial judgment.

Question 3

An event seems much more likely to occur if when a scenario related to that event is presented or imagined.

Accepted Answer

A) True 
 B)False

Question 4

Confidence decreases as insensitivity to omissions increases.

Accepted Answer

A) True 
 B)False

Question 5

In Bayes's Theorem, the likelihood ratio serves as a measure of the probability of a hypothesis being true.

Accepted Answer

A) True 
 B)False

Question 6

The decision aid involving the use of a list of categories of common difficulties for use in troubleshooting is known as:

Accepted Answer

A) an actuarial model 
B) a subjective linear model 
C) an objective linear model 
D) a fault tree 
E) a convergence model 
A) an actuarial model 
B) a subjective linear model 
C) an objective linear model 
D) a fault tree 
E) a convergence model

Question 7

Statistically, when a manager considers more options, there is a greater chance of finding an optimal solution.

Accepted Answer

A) True 
 B)False

Question 8

The linear model is:

Accepted Answer

A) unsystematic compared to an actuarial model 
B) used to graph ideal vectors 
C) a decision aid 
D) used only by banks 
E) All of the above are correct. 
A) unsystematic compared to an actuarial model 
B) used to graph ideal vectors 
C) a decision aid 
D) used only by banks 
E) All of the above are correct.

Question 9

Linear models can only deal with objective (rather than subjective) information.

Accepted Answer

A) True 
 B)False

Question 10

Many fmns require their managers to justify and explain their judgments to a higher-ranking officer in the firm.

Accepted Answer

A) True 
 B)False

Question 11

The base rate is a statistic based on:

Accepted Answer

A) a single significant event score 
B) a distribution of event scores 
C) a series of isolated events 
D) a median event score 
E) None of the above is correct. 
A) a single significant event score 
B) a distribution of event scores 
C) a series of isolated events 
D) a median event score 
E) None of the above is correct.

Question 12

One reason people tend to underuse base rate information is that base rate is a sum statistic based on the occurrence of a single important event in the past.

Accepted Answer

A) True 
 B)False

Question 13

Fault trees would not be helpful for the restaurant management industry due to the nature of the tool.

Accepted Answer

A) True 
 B)False

Question 14

Bayes's theorem is closely relate to what heuristic?

Accepted Answer

A) Anchoring-and-adjustment heuristic 
B) Price/quality heuristic 
C) Availability heuristic 
D) Simulation heuristic 
E) Contrast effect 
A) Anchoring-and-adjustment heuristic 
B) Price/quality heuristic 
C) Availability heuristic 
D) Simulation heuristic 
E) Contrast effect

Question 15

Validity and reliability should be strongly considered when evaluating information quality.

Accepted Answer

A) True 
 B)False

Question 16

People sometimes base rate information because it is a statistic.

Accepted Answer

A) over use 
B) misuse 
C) 1gnore 
D) emphasize 
E) over estimate 
A) over use 
B) misuse 
C) 1gnore 
D) emphasize 
E) over estimate

Question 17

Subjective linear modeling would be a good way to select which university to attend for a high school student.

Accepted Answer

A) True 
 B)False

Question 18

When can accountability improve decision making? When can it harm decision making?

Accepted Answer

Accountability can cause managers to thi

Question 19

Information that confounds measures of a target with measures of nontargets are:

Accepted Answer

A) unreliable 
B) invalid 
C) insensitive to omission 
D) actuarial 
E) convergent 
A) unreliable 
B) invalid 
C) insensitive to omission 
D) actuarial 
E) convergent

Question 20

When several independent or unrelated pieces of iuforrnation taken from a large data set poiut to the same conclusion, a manager should be concerned with:

Accepted Answer

A) reliability and confidence 
B) accuracy and cost 
C) speed and accuracy 
D) seiziug and freezing 
E) convergence and redundancy 
A) reliability and confidence 
B) accuracy and cost 
C) speed and accuracy 
D) seiziug and freezing 
E) convergence and redundancy

Explain the difference between "seizing" and "freezing."

Which actions do not improve managerial judgment?

An event seems much more likely to occur if when a scenario related to that event is presented or imagined.

Confidence decreases as insensitivity to omissions increases.

In Bayes's Theorem, the likelihood ratio serves as a measure of the probability of a hypothesis being true.

The decision aid involving the use of a list of categories of common difficulties for use in troubleshooting is known as:

Statistically, when a manager considers more options, there is a greater chance of finding an optimal solution.

The linear model is:

Linear models can only deal with objective (rather than subjective) information.

Many fmns require their managers to justify and explain their judgments to a higher-ranking officer in the firm.

The base rate is a statistic based on:

One reason people tend to underuse base rate information is that base rate is a sum statistic based on the occurrence of a single important event in the past.

Fault trees would not be helpful for the restaurant management industry due to the nature of the tool.

Bayes's theorem is closely relate to what heuristic?

Validity and reliability should be strongly considered when evaluating information quality.

People sometimes base rate information because it is a statistic.

Subjective linear modeling would be a good way to select which university to attend for a high school student.

When can accountability improve decision making? When can it harm decision making?

Information that confounds measures of a target with measures of nontargets are:

When several independent or unrelated pieces of iuforrnation taken from a large data set poiut to the same conclusion, a manager should be concerned with:

Understanding Consumer Behavior and Consumer Research

Consumer Focused Strategy: Segmentation and Positioning

Branding Strategy and Consumer Behavior

Consumer Perception

Learning and Memory

Automatic Information Processing

Motivation and Emotion

Attitude and Judgment Formation and Change

The Consumer Decision Making Process

Product Consideration, Evaluation, and Choice

Behavioral Decision Theory

Self-Concept and Personality

Social Influence and Behavioral Compliance

The Influence of Culture and Values

The Influence of Demography

Contemporary Strategies in Reaching Consumers

Engaging Consumers Through Online Marketing

Biases in Managerial Decision Making

Filters

Exam 19: Strategies for Improving Managerial Decision Making

Explain the difference between "seizing" and "freezing."

Which actions do not improve managerial judgment?

An event seems much more likely to occur if when a scenario related to that event is presented or imagined.

Confidence decreases as insensitivity to omissions increases.

In Bayes's Theorem, the likelihood ratio serves as a measure of the probability of a hypothesis being true.

The decision aid involving the use of a list of categories of common difficulties for use in troubleshooting is known as:

Statistically, when a manager considers more options, there is a greater chance of finding an optimal solution.

The linear model is:

Linear models can only deal with objective (rather than subjective) information.

Many fmns require their managers to justify and explain their judgments to a higher-ranking officer in the firm.

The base rate is a statistic based on:

One reason people tend to underuse base rate information is that base rate is a sum statistic based on the occurrence of a single important event in the past.

Fault trees would not be helpful for the restaurant management industry due to the nature of the tool.

Bayes's theorem is closely relate to what heuristic?

Validity and reliability should be strongly considered when evaluating information quality.

People sometimes base rate information because it is a statistic.

Subjective linear modeling would be a good way to select which university to attend for a high school student.

When can accountability improve decision making? When can it harm decision making?

Information that confounds measures of a target with measures of nontargets are:

When several independent or unrelated pieces of iuforrnation taken from a large data set poiut to the same conclusion, a manager should be concerned with:

Understanding Consumer Behavior and Consumer Research

Consumer Focused Strategy: Segmentation and Positioning

Branding Strategy and Consumer Behavior

Consumer Perception

Learning and Memory

Automatic Information Processing

Motivation and Emotion

Attitude and Judgment Formation and Change

The Consumer Decision Making Process

Product Consideration, Evaluation, and Choice

Behavioral Decision Theory

Self-Concept and Personality

Social Influence and Behavioral Compliance

The Influence of Culture and Values

The Influence of Demography

Contemporary Strategies in Reaching Consumers

Engaging Consumers Through Online Marketing

Biases in Managerial Decision Making

Filters