Decision Making MCQ

Making decisions together with others can be easier because it allows you to __________.

Answer

Correct Answer: Seek advice from others about the decision

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Positive support mechanisms after a loss include __________.

Answer

Correct Answer: Both A and C

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The first step in preparing successful marketing and sales messages is ____________________.

Answer

Correct Answer: Motivating action

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One fundamental difference between a process chart and a process map is that __________.

Answer

Correct Answer: The process chart is more like a table, while the process map is more like a schematic diagram

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In order to compare and evaluate choices, there must be a set of ______.

Answer

Correct Answer: None of the above

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What is the definition of evaluation?

Answer

Correct Answer: Putting a number to a judgment, not necessarily a preference judgment, e.g., assessing a probability.

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What is the equivalent substitute of "assessor"?

Answer

Correct Answer: Equate

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What does enhancement mean?

Answer

Correct Answer: Judgment made more rational.

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What does the enhancement of judgment mean?

Answer

Correct Answer: More rational decisions

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What is emulation?

Answer

Correct Answer: Aid that mimics some expert's judgment

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What is the name given to decisions that have an accepted way to generate and analyze information for decision-making purposes?

Answer

Correct Answer: Empirical decisions

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What is an empirical decision?

Answer

Correct Answer: Information-poor decision that has an accepted way to generate and analyze information for decision-making purposes.

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If emotions are not effectively managed, what will happen?

Answer

Correct Answer: They can intensify a conflict

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What is emotional inoculation?

Answer

Correct Answer: A technique used to reduce stakeholders’ fears about decision outcomes over which they have no control.

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What is elimination by aspects?

Answer

Correct Answer: A technique used with multicriteria to speed decision making in short-fuse situations.

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What is the purpose of an elicitor?

Answer

Correct Answer: To determine someone else's judgment

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What is an Elicitor?

Answer

Correct Answer: Determines someone else's judgment, e.g., of uncertainty or preference.

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What distinguishes between decision nodes and chance nodes?

Answer

Correct Answer: Decision nodes have options which branch off while chance nodes have states which are associated with alternative decisions

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What are the nodes from which decision options branch off called in a decision tree?

Answer

Correct Answer: Decision nodes

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What does Decision Tree refer to?

Answer

Correct Answer: The use of the network-theoretical concept of tree to the uncertainty-related structuring of decision options

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What is Decision Tree Analysis?

Answer

Correct Answer: A method for evaluating how users make decisions in performing their tasks

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What is the best possible consequence of the maxmin rule?

Answer

Correct Answer: The worst possible consequence of the chosen alternative is better than the best possible consequence of any other alternative.

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What is the main focus of decision theory?

Answer

Correct Answer: To reveal preferences and introduce them into models of decision

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What is the difference between decision under risk and decision under uncertainty?

Answer

Correct Answer: When the probability distributions are unknown, one speaks about decision under uncertainty.

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What is a Decision Support System?

Answer

Correct Answer: A computer based system that helps the decision maker utilize data and models to solve unstructured problems.

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What is a decision rule?

Answer

Correct Answer: Procedure that is set in advance for making a prospective decision, in the event of a specified development.

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What is the role of the decider in relation to the decision?

Answer

Correct Answer: The decider is responsible for making the decision.

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What is the decision making process?

Answer

Correct Answer: The decision making process is the process that is used to make a decision.

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What is a decision maker?

Answer

Correct Answer: A person who makes the final choice among the alternatives.

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What is the correct definition of a decision level?

Answer

Correct Answer: A level corresponds to increases in the complexity of decisions, as assumptions about future conditions become more ambiguous.

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What is the definition of a "decision level"?

Answer

Correct Answer: A level that corresponds to increases in the complexity of decisions, as assumptions about future conditions become more ambiguous.

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What is the purpose of decision analysis?

Answer

Correct Answer: To promote insight that leads to learning

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What is a decision aider?

Answer

Correct Answer: A person who provides aid to the decision-maker

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What is the main purpose of a decision aider?

Answer

Correct Answer: Provides decision analyst or other aid to decision-maker.

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What does a decision aid do?

Answer

Correct Answer: Help with decision-maker by providing some insight to the decision problem.

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What is the definition of a "decider"?

Answer

Correct Answer: Person responsible for making choices and committing resources.

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What is the meaning of "current decision"?

Answer

Correct Answer: A decision that needs to be made now, before learning anything new.

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What is a culminating prospect?

Answer

Correct Answer: Possible places that an incremental commitment strategy may lead to.

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What does the word "criterion" mean?

Answer

Correct Answer: A rule or standard by which to rank the alternatives in order of desirability

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What does criterion score mean?

Answer

Correct Answer: To assign a score to a criterion or attribute.

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What is the definition for 'Criterion Domain'?

Answer

Correct Answer: The proxy measure selected to capture a criterion, such as a morale survey that is used to measure satisfaction.

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What is a criterion domain?

Answer

Correct Answer: The proxy measure selected to capture a criterion

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What does the term "Criteria" mean in the context of making comparisons?

Answer

Correct Answer: The means used to make a comparison among alternatives

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What is the definition of criteria?

Answer

Correct Answer: The means used to make a comparison among alternatives such as cost and quality.

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What does "criteria weight" mean?

Answer

Correct Answer: A quantitative value that specifies the relative important criteria.

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What does "covaries" mean?

Answer

Correct Answer: Depends on

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What does Cost-benefit Analysis assess?

Answer

Correct Answer: Whether the cost of an intervention is worth the benefit

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What is the definition for "core problem"?

Answer

Correct Answer: The most important and most central problem provoking action, which can be difficult to identify.

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What is the Core model?

Answer

Correct Answer: A coarse model addressing the target evaluation directly.

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What is a contributor?

Answer

Correct Answer: Attribute of interest because it influences some criterion but is not itself a criterion.

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What is the main purpose of a consultant?

Answer

Correct Answer: To provide professional advise relating to a decision problem of an individual, group or organization.

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What is a constraint?

Answer

Correct Answer: A mathematical representation of some situational factors that must be taken into consideration when optimizing a value function

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What is the definition of a constituent?

Answer

Correct Answer: Interested party on whose behalf decision-maker is expected to act

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What are conspicuous alternatives?

Answer

Correct Answer: Traditional or habitual ways of responding to core problems that arise early in a decision process.

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What are the consequences of a decision-maker's actions?

Answer

Correct Answer: They might be any defined outcomes or ill-defined.

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What is conflict?

Answer

Correct Answer: Disagreement among people with different interests, views, or agendas, causing emotional disturbance and stress.

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What is probability based on knowledge of other events called?

Answer

Correct Answer: Conditional probability

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What is conditional probability?

Answer

Correct Answer: Given some specified possibility based on knowledge of other events.

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What are the building blocks of theories?

Answer

Correct Answer: Concepts

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What is Comprehensive coherence?

Answer

Correct Answer: Decision maker judgments are logically consistent; he/she is fully rational.

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What does "complex model" mean?

Answer

Correct Answer: A model with an elaborate structure.

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What is the process of changing the value of a variable in a model called?

Answer

Correct Answer: Comparative statics

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What does the word "coherent" mean?

Answer

Correct Answer: Obeys logical rules of consistency.

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What is a coarse model?

Answer

Correct Answer: A model with simpler structure

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What does Clairvoyance refer to?

Answer

Correct Answer: Having perfect information

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What does it mean to have perfect information?

Answer

Correct Answer: Knowing everything about a situation

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What is an example of a civic decision?

Answer

Correct Answer: A government policy

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What is the process of selecting among identified options called?

Answer

Correct Answer: Choice

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What is Choice?

Answer

Correct Answer: Selecting among identified options, a phase of the decision process.

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What does a "Choice Fork" represent?

Answer

Correct Answer: Branches are options, i.e., act fork.

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What is a certainty equivalent?

Answer

Correct Answer: Single quantity, judgmentally equated to a gamble, i.e., certainty equivalent in construction of a utility function.

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One factor that can contribute to the production or prevention of another is known as a:

Answer

Correct Answer: Causal factor

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What is the relationship between variables called?

Answer

Correct Answer: Causality

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What is the name of the statistical concept that is described in the text?

Answer

Correct Answer: Casual Dependence

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What is Casual Dependence?

Answer

Correct Answer: Co-variation where direction matters to determine the influence.

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What does casual attributes mean?

Answer

Correct Answer: The assignment of causes to outcomes or events that are observed.

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What does the word "Binary" mean?

Answer

Correct Answer: Having two possibilities

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What is Bias?

Answer

Correct Answer: Partiality or prejudice in interpreting information and applying it to a decision situation.

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What is behavioral economics?

Answer

Correct Answer: A description of how decision makers act when making decisions without the aid of normative tactics.

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What is the alternative name for "Behavioral"?

Answer

Correct Answer: Descriptive

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What is a bad decision?

Answer

Correct Answer: A failure to deal with a foreseeable event.

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What is background knowledge?

Answer

Correct Answer: In addition to any specified recent knowledge.

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What is the average value?

Answer

Correct Answer: The sum of the possible values multiplied by the probability.

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What is the availability heuristic?

Answer

Correct Answer: A rule of thumb that is used to acquire information in which easily accessible information is treated as diagnostic.

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What is an attribute?

Answer

Correct Answer: Any property, descriptive or prescriptive, of possibility distinction.

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What is an assessor?

Answer

Correct Answer: Judger of a factual possibility based on empirical frequency function.

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What does assessment updating refer to?

Answer

Correct Answer: Bayesian updating of prior to obtain the posterior probabilities

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What does Arena refer to in the context of decision making?

Answer

Correct Answer: The context in which a decision is made that captures background and motivating information that characterize a decision

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What is an arbitrary assumption?

Answer

Correct Answer: An assignment of value or probability, without reference to its realism, e.g., for analytic convenience.

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What is the approximate equivalent of the phrase "substitute close enough to be useful"?

Answer

Correct Answer: Approximate equivalent

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What does "approximate equivalent" mean?

Answer

Correct Answer: Substitute close enough to be useful.

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What is the Anchor effect?

Answer

Correct Answer: The failure to make adjustments after the initial estimate has been proved incorrect.

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What does it mean to analyze?

Answer

Correct Answer: To break into component parts and study those parts to gain a better understanding of the whole.

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How many steps are there in the analytical decision process?

Answer

Correct Answer: 4

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What does the process of analysis involve?

Answer

Correct Answer: Separating or breaking up the component parts needed to value alternatives.

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What does ambiguity refer to?

Answer

Correct Answer: The inability to characterize or describe important aspects of a decision

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What is ambiguity?

Answer

Correct Answer: The inability to characterized or describe important aspects of a decision.

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What is the definition of an "alternative"?

Answer

Correct Answer: One of the mutually exclusive courses of action attaining the objectives.

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What is an aiding method?

Answer

Correct Answer: A Variation of a decision tool.

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What is an additive component?

Answer

Correct Answer: Elements of a quantity, e.g. utility partitioned into additive criteria.

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What is the opposite of hypothetical judgment?

Answer

Correct Answer: Actual judgment

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What is actor learning?

Answer

Correct Answer: Determining the accuracy of information offered by experts in a decision process

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What is the main focus of active listening?

Answer

Correct Answer: What the other person is saying

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What does "action" mean?

Answer

Correct Answer: Committing resources, usually following a choice.

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What is action learning?

Answer

Correct Answer: Learning focused on outcomes and the future conditions that should have been foreseeable and that produced these outcomes

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