Humber College HRM 5008 Chapter 12 Pop Quiz 1)The tendency for people to base their judgments on information that is readily available but may not be accurate is called availability bias

Humber College

HRM 5008

Chapter 12 Pop Quiz

1)The tendency for people to base their judgments on information that is readily available but may not be accurate is called

1. 1. availability bias.
   2. bounded discretion.
   3. escalation of commitment.
   4. heuristical fallacy.
   5. representative bias.

2. When a manager immediately hires the person he/she feels is "good enough," they are employing what decision-making process?
   1. bounded-rationals
   2. satisficing
   3. intuitive decision making
   4. reflexivity decision-making
   5. heuristics

3. Looking for a solution that is satisfactory and sufficient is called
   1. suboptimizing.
   2. optimizing.
   3. satisficing.
   4. simplifying.
   5. seeking an implicit favourite.

4. When managers predict that sales for next year will be the same as last year, despite a weakening economy, they are
   1. ignoring the base rate.
   2. using regression to the mean.
   3. escalating commitment.
   4. using confirmation bias.
   5. using framing.

5. As Baby Boomers begin to leave the workforce, there is an increasing awareness that they represent a wealth of knowledge that will be lost if there are no attempts to capture it. This has elevated the importance of
   1. decision making.
   2. randomness error.
   3. knowledge management.
   4. heredity.
   5. escalation of commitment.

6. One shortcut in judgment that may weaken the decision-making process is in a specific situation is
   1. escalations.
   2. optimalities.
   3. randomness error.
   4. synectics.
   5. hindsight bias.

7. Tom consistently makes chooses the value-maximized alternative within his specified constraints. This is known as                  decision making.
   1. erratic
   2. pensive
   3. rational
   4. impulsive
   5. cautious

8. Trying to cover up a wrongdoing and risking public trial and expensive court costs, instead of admitting a mistake, is an example of
   1. availability heuristic.
   2. risk hindsight.
   3. risk aversion.
   4. escalation of commitment.
   5. representative heuristic.

9. Which of the following describes the tendency for people to be too optimistic about their abilities?
   1. overconfidence bias
   2. bounded discretion
   3. heuristical fallacy
   4. availability bias
   5. escalation of commitment

10. After reflecting on his staff's decision-making abilities, James reaches the conclusion there are limitations on a person's ability to interpret, process and act on information. His opinion reflects
    1. confirming.
    2. anchoring.
    3. satisficing.
    4. bounded rationality.
    5. groupthink.

11. Todd has a tendency to rely too much on the initial information at his disposal about any given issue; he fails to integrate and give weight to new information being given to him. This is known as
    1. overconfidence bias.
    2. performance bias.
    3. availability bias.
    4. confirmation bias.
    5. anchoring bias.

12. Which of the following conditions would probably not lead to intuitive decision making?
    1. when facts don't clearly point the way to go
    2. when a high level of certainty exists
    3. when facts are limited
    4. when time is limited
    5. when there is pressure to come up with the right decision

13. The first phase of the rational decision-making model is
    1. problem definition.
    2. conflict.
    3. managers only.
    4. perceptual distortion.
    5. solution.