Making Decisions & implemented in management today MCQ
Making Decisions & implemented in management today MCQ
1. During the _____ stage of the problem solving process, you select a course of action.
Answer
Correct Answer:
Choice
Note: This Question is unanswered, help us to find answer for this one
2. High volume, high velocity, and high variety are terms that define which concept?
Answer
Correct Answer:
Big data
Note: This Question is unanswered, help us to find answer for this one
3. When people continue to invest in failing courses of action to recoup their losses, hoping to show they have made the right decision all along is known as Sunk Costs Fallacy.
Answer
Correct Answer:
True
Note: This Question is unanswered, help us to find answer for this one
4. Making a decision that is satisfactory and optimal is known as Satisficing.
Answer
Correct Answer:
False
Note: This Question is unanswered, help us to find answer for this one
5. Evaluation of the likelihood that a damaging event might negatively affect an organization is known as ?
Answer
Correct Answer:
Risk Analysis
Note: This Question is unanswered, help us to find answer for this one
6. If one of two alternatives is recognized, inferring that it has the Lower value on the criterion in question is known as Recognition Heuristic.
Answer
Correct Answer:
False
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7. A way of understanding the perceptions people have of risks when making decisions is known as ?
Answer
Correct Answer:
Prospect Theory
Note: This Question is unanswered, help us to find answer for this one
8. The application of advanced _____ methods to make better decisions about business operations.
Answer
Correct Answer:
Analytic
Note: This Question is unanswered, help us to find answer for this one
Note: This Question is unanswered, help us to find answer for this one
10. Responses that are reached with little apparent effort, and typically without conscious awareness; they involve more conscious deliberation is known as Intuition.
Answer
Correct Answer:
True
Note: This Question is unanswered, help us to find answer for this one
11. The urgent need to solve the problem faced, regardless of the monetary _____ expected is known as Intrinsic Motivation.
Answer
Correct Answer:
Rewards
Note: This Question is unanswered, help us to find answer for this one
12. Heuristic entailing following best practices?
Answer
Correct Answer:
Limiting the Successful
Note: This Question is unanswered, help us to find answer for this one
13. Heuristic entailing doing what most people do?
Answer
Correct Answer:
Limiting the Majority
Note: This Question is unanswered, help us to find answer for this one
14. “The tendency for individuals with outcome knowledge to claim they would have estimated a probability of occurrence for the reported outcome that is higher than they would have estimated” before knowing the outcome (Hawkins & Hastie, 1990) is known as?
Answer
Correct Answer:
Both A and B
Note: This Question is unanswered, help us to find answer for this one
15. Heuristics is a mental shortcut that allows people to solve problems and make judgments _____ .
Answer
Correct Answer:
Quickly and Efficiently
Note: This Question is unanswered, help us to find answer for this one
16. The choice to present questions as gains or losses is called Framing.
Answer
Correct Answer:
True
Note: This Question is unanswered, help us to find answer for this one
17. When the quickest decision is selected, as when there is a pressing need to bring a new product to market before competition enters, it is called Fluency.
Answer
Correct Answer:
True
Note: This Question is unanswered, help us to find answer for this one
18. Expertise refers to knowledge of ?
Answer
Correct Answer:
All of Mentioned
Note: This Question is unanswered, help us to find answer for this one
19. When individuals continue a failing course of action after receiving _____ that shows it is not working is known as Escalation of Commitment.
Answer
Correct Answer:
All of the Above
Note: This Question is unanswered, help us to find answer for this one
20. Resources that should be allocated equally are called Equality Heuristic.
Answer
Correct Answer:
True
Note: This Question is unanswered, help us to find answer for this one
21. _____ is generally thought of as a different but useful solution to a problem, or novel and effective ideas.
Answer
Correct Answer:
All of the Above
Note: This Question is unanswered, help us to find answer for this one
22. Creative Thinking Skills refers to how adaptable and imaginative _____ are.
Answer
Correct Answer:
Individuals
Note: This Question is unanswered, help us to find answer for this one
23. The use of data to help managers gain improved insight about _____ operations is called Business Analytics.
Answer
Correct Answer:
Business
Note: This Question is unanswered, help us to find answer for this one
24. The context _____ used to simplify complex problems by limiting the amount of information-processing needed is known as Bounded Rationality.
Answer
Correct Answer:
Decision Makers
Note: This Question is unanswered, help us to find answer for this one
25. Collections of large amounts of data; it has been defined in terms of
Answer
Correct Answer:
All of the mentioned
Note: This Question is unanswered, help us to find answer for this one
26. The collection and analysis of data about human behavior, particularly its _____ is known as Behavioral Analytics.
Answer
Correct Answer:
Predictors and Outcomes
Note: This Question is unanswered, help us to find answer for this one
27. The _____ of data about human behavior, particularly its predictors and outcomes is known as Behavioral Analytics.
Answer
Correct Answer:
Collection and Analysis
Note: This Question is unanswered, help us to find answer for this one
28. Using ______ is an effective way for organizations to make routine decisions and better manage information.
Answer
Correct Answer:
heuristics
Note: This Question is unanswered, help us to find answer for this one
29. Expertise, creative thinking skills, and ______ are parts of the three-component model of creativity.
Answer
Correct Answer:
intrinsic motivation
Note: This Question is unanswered, help us to find answer for this one
30. When decision makers simplify complex problems to limit the amount of information processing, this is known as ______ rationality.
Answer
Correct Answer:
bounded
Note: This Question is unanswered, help us to find answer for this one
31. Companies use business analytics to predict company performance in terms of ______, revenue, and shareholder return.
Answer
Correct Answer:
profitability
Note: This Question is unanswered, help us to find answer for this one
32. When managers make a decision that is satisfactory, but not optimal, they engage in which practice?
Answer
Correct Answer:
satisficing
Note: This Question is unanswered, help us to find answer for this one
33. Business analytics is considered to be a part of which of the following relationship areas?
Answer
Correct Answer:
business intelligence
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34. Which of the following definitions best describes High Velocity?
Answer
Correct Answer:
the rate at which data is created
Note: This Question is unanswered, help us to find answer for this one
35. Daniel Kahneman and Amos Tversky won a Nobel Prize in economics for their work on which decision-making theory?
Answer
Correct Answer:
Prospect Theory
Note: This Question is unanswered, help us to find answer for this one
36. The “lone genius” working in the lab is an example of a common myth about ______.
Answer
Correct Answer:
creativity
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37. How many steps are part of the Rational Decision Making Process?
Answer
Correct Answer:
eight
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38. Using money to foster creativity is an example of which creativity myth?
Answer
Correct Answer:
Incentive Myth
Note: This Question is unanswered, help us to find answer for this one
39. A manager who continues a failing course of action after receiving negative feedback is engaging in ______ of commitment.
Answer
Correct Answer:
escalation
Note: This Question is unanswered, help us to find answer for this one
40. The five critical decisions that could make or break a manager’s career include hiring, firing, clarifying and dealing decisively with ethics, navigating “fork-in-the-road
Answer
Correct Answer:
recognizing and responding to mistakes
Note: This Question is unanswered, help us to find answer for this one
41. If managers are going to rely on ______ to help make decisions, they must be aware of the positive and negative effects.
Answer
Correct Answer:
intuition
Note: This Question is unanswered, help us to find answer for this one
42. When people continue to invest in failing courses of action to recoup their losses, hoping to show they have made the right decision all along is known as Sunk Costs Fallacy.
Answer
Correct Answer:
True
Note: This Question is unanswered, help us to find answer for this one
43. Making a decision that is satisfactory and optimal is known as Satisficing.
Answer
Correct Answer:
False
Note: This Question is unanswered, help us to find answer for this one
44. Evaluation of the likelihood that a damaging event might negatively affect an organization is known as ?
Answer
Correct Answer:
Risk Analysis
Note: This Question is unanswered, help us to find answer for this one
45. If one of two alternatives is recognized, inferring that it has the Lower value on the criterion in question is known as Recognition Heuristic.
Answer
Correct Answer:
False
Note: This Question is unanswered, help us to find answer for this one
46. A way of understanding the perceptions people have of risks when making decisions is known as ?
Answer
Correct Answer:
Prospect Theory
Note: This Question is unanswered, help us to find answer for this one
47. The application of advanced _____ methods to make better decisions about business operations.
Answer
Correct Answer:
Analytic
Note: This Question is unanswered, help us to find answer for this one
Note: This Question is unanswered, help us to find answer for this one
49. Responses that are reached with little apparent effort, and typically without conscious awareness; they involve more conscious deliberation is known as Intuition.
Answer
Correct Answer:
True
Note: This Question is unanswered, help us to find answer for this one
50. The urgent need to solve the problem faced, regardless of the monetary _____ expected is known as Intrinsic Motivation.
Answer
Correct Answer:
Rewards
Note: This Question is unanswered, help us to find answer for this one
51. Heuristic entailing following best practices?
Answer
Correct Answer:
Limiting the Successful
Note: This Question is unanswered, help us to find answer for this one
52. Heuristic entailing doing what most people do?
Answer
Correct Answer:
Limiting the Majority
Note: This Question is unanswered, help us to find answer for this one
53. “The tendency for individuals with outcome knowledge to claim they would have estimated a probability of occurrence for the reported outcome that is higher than they would have estimated” before knowing the outcome (Hawkins & Hastie, 1990) is known as?
Answer
Correct Answer:
Both A and B
Note: This Question is unanswered, help us to find answer for this one
54. Heuristics is a mental shortcut that allows people to solve problems and make judgments _____ .
Answer
Correct Answer:
Quickly and Efficiently
Note: This Question is unanswered, help us to find answer for this one
55. The choice to present questions as gains or losses is called Framing.
Answer
Correct Answer:
True
Note: This Question is unanswered, help us to find answer for this one
56. When the quickest decision is selected, as when there is a pressing need to bring a new product to market before competition enters, it is called Fluency.
Answer
Correct Answer:
True
Note: This Question is unanswered, help us to find answer for this one
57. Expertise refers to knowledge of ?
Answer
Correct Answer:
All of Mentioned
Note: This Question is unanswered, help us to find answer for this one
58. When individuals continue a failing course of action after receiving _____ that shows it is not working is known as Escalation of Commitment.
Answer
Correct Answer:
All of the Above
Note: This Question is unanswered, help us to find answer for this one
59. Resources that should be allocated equally are called Equality Heuristic.
Answer
Correct Answer:
True
Note: This Question is unanswered, help us to find answer for this one
60. _____ is generally thought of as a different but useful solution to a problem, or novel and effective ideas.
Answer
Correct Answer:
All of the Above
Note: This Question is unanswered, help us to find answer for this one
61. Creative Thinking Skills refers to how adaptable and imaginative _____ are.
Answer
Correct Answer:
Individuals
Note: This Question is unanswered, help us to find answer for this one
62. The use of data to help managers gain improved insight about _____ operations is called Business Analytics.
Answer
Correct Answer:
Business
Note: This Question is unanswered, help us to find answer for this one
63. The context _____ used to simplify complex problems by limiting the amount of information-processing needed is known as Bounded Rationality.
Answer
Correct Answer:
Decision Makers
Note: This Question is unanswered, help us to find answer for this one
64. Collections of large amounts of data; it has been defined in terms of
Answer
Correct Answer:
All of the mentioned
Note: This Question is unanswered, help us to find answer for this one
65. The collection and analysis of data about human behavior, particularly its _____ is known as Behavioral Analytics.
Answer
Correct Answer:
Predictors and Outcomes
Note: This Question is unanswered, help us to find answer for this one
66. The _____ of data about human behavior, particularly its predictors and outcomes is known as Behavioral Analytics.
Answer
Correct Answer:
Collection and Analysis
Note: This Question is unanswered, help us to find answer for this one
