Sample Test Questions - 2

Sample Test - Which of the following are true concerning heuristics They make us more efficient They simplify complex environments They produce

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Which of the following are true concerning heuristics? They make us more efficient They simplify complex environments They produce more good than bad decisions All of the following could cause one to overestimate the frequency of an event except An event that is hard to imagine In the gambler’s fallacy, the person believes after a number of unfortunate events that the likelihood of a future is Nearly a sure thing When a decision is framed negatively, the decision-maker Is likely to take more risk Who has more repeat sales? Positively framed sellers Which of the following is true concerning decision-making? Decision-making is not a function of management A manager has a rule when hiring new salespeople: “If they have a weak handshake then they won’t make a good salesperson”. This is an example of: A programmed decision, a decision made under risk Through her experience hiring line workers, an assembly-line supervisor finds that 8 out of 10 times when an employee has a high school degree they work out well but when an employee doesn’t have a high school degree they work out well only 4 out of 10 times. As part of her hiring process, she has made a high school degree an essential requirement for that job. This is an example of a decision under: Risk Which of the following is true concerning decisions made under risk? When you play the odds well, a negative outcome may result Which decision-making condition are programmed decisions associated with? Certainty and risk Which of the following factors would bound one’s rationality? Limited mental capacity, emotional state, unforseeability of future events The traditional economic model of decision-making assumes that managers make decisions under: Certainty
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The behavioral model assumes that managers make decisions under: Risk and uncertainty All of the following are true concerning Satisficing expect Satisficing saves time and effort Satisficing entails selecting the first alternative that’s just good enough Satisficing can never lead to a maximizing solution Satisficing is quite rational given our limits as human beings
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This note was uploaded on 10/07/2011 for the course MGT 3200 taught by Professor Sauley during the Fall '06 term at LSU.

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Sample Test - Which of the following are true concerning heuristics They make us more efficient They simplify complex environments They produce

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