Exam 2 Management .docx - Questions from Class 1 Which of...

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Chapter 10 / Exercise 3
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Sexton
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Questions from Class: 1) Which of the following are true concerning heuristics? a. They make us more efficient b. They simplify complex environments c. They produce more good than bad decisions d. When they lead to errors, they are called biases e. All of the above are true –
2) When a decision is frames negatively, the decision- maker
3) All of the following could cause one to overestimate the frequency of an event except
4) In the gamblers fallacy, the person believes after a number of unfortunate events that the likelihood of good fortune is 5) Henry Ford had a rule when hiring executives: “If they salted their food before they
tasted it, they would be poor decision makers” This is an example of a. A decision made under certainty b. A programmed decision c. A non programmed decision d. A decision made under uncertainty. e. 1 and 2
6) Non programmed decisions are associated with decisions made under conditions of: 7) a retail store uses a cognitive ability to test hire candidates for a managerial position.
They have found when they use a cut-score of 115 (an above average iq score) to hire candidates 9 times out of 10 they become successuful managers. This is a decision made under
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The document you are viewing contains questions related to this textbook.
Exploring Microeconomics
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Chapter 10 / Exercise 3
Exploring Microeconomics
Sexton
Expert Verified
d. None of the above; you cant tell what decision-making condition it is from the facts presented. 8) the traditioa econmoic model of decision making assumes that anagers make decisions under
9) which of the following is true a. all of the above
10) which of the following factors would bound one’s ratonality?
11) which of the following factors would bound one’s rationality?

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