Course: BUSI 240- Liberty University
Test: Quiz 4
• Question 1
2 out of 2 points
________ is valuable throughout the decision-making process.
Selected Answer: Creativity
Response Feedback: Creativity is valuable throughout the decision-
making process.
• Question 2
2 out of 2 points
Scenario F
The Braided Bread company is struggling with how to break into the
bagel market. They see this as an opportunity for growth, as it would not
require any new machinery. The downside is that there is already a bagel
shop in town.
After Braided Bread evaluates the selected choice, the next problem will
start with
Selected Answer: identifying the problem.
Response Feedback: The first step is to identify the problem or
recognize an opportunity.
• Question 3
2 out of 2 points
, Prospect theory and closing costs are two reasons why people
Selected Answer: engage in escalation of commitment.
Response Feedback: Four of the main influences that lead to escalation
of commitment include self-justification, prospect theory effect, self
enhancement, and sunk costs.
• Question 4
2 out of 2 points
What effect do mental models have on the decision-making process?
Selected Answer: They perpetuate assumptions that make it difficult
to see new opportunities.
Response Feedback: Mental models are visual or relational images of
the external world; they fill in information that we don't immediately
see, which helps us understand and navigate in our surrounding
environment. Many mental images are also prototypes—they represent
models of how things should be. These mental models also blind us from
seeing unique problems or opportunities because they produce a
negative evaluation of things that are dissimilar to the mental model.
• Question 5
2 out of 2 points
Scenario B
Alvin, the production manager at the Paragon Company, wants to select
the best supplier of raw materials from among several vendors. He has
several choices and has done research into which company provides the
best services and products. One company is known to be extremely
Test: Quiz 4
• Question 1
2 out of 2 points
________ is valuable throughout the decision-making process.
Selected Answer: Creativity
Response Feedback: Creativity is valuable throughout the decision-
making process.
• Question 2
2 out of 2 points
Scenario F
The Braided Bread company is struggling with how to break into the
bagel market. They see this as an opportunity for growth, as it would not
require any new machinery. The downside is that there is already a bagel
shop in town.
After Braided Bread evaluates the selected choice, the next problem will
start with
Selected Answer: identifying the problem.
Response Feedback: The first step is to identify the problem or
recognize an opportunity.
• Question 3
2 out of 2 points
, Prospect theory and closing costs are two reasons why people
Selected Answer: engage in escalation of commitment.
Response Feedback: Four of the main influences that lead to escalation
of commitment include self-justification, prospect theory effect, self
enhancement, and sunk costs.
• Question 4
2 out of 2 points
What effect do mental models have on the decision-making process?
Selected Answer: They perpetuate assumptions that make it difficult
to see new opportunities.
Response Feedback: Mental models are visual or relational images of
the external world; they fill in information that we don't immediately
see, which helps us understand and navigate in our surrounding
environment. Many mental images are also prototypes—they represent
models of how things should be. These mental models also blind us from
seeing unique problems or opportunities because they produce a
negative evaluation of things that are dissimilar to the mental model.
• Question 5
2 out of 2 points
Scenario B
Alvin, the production manager at the Paragon Company, wants to select
the best supplier of raw materials from among several vendors. He has
several choices and has done research into which company provides the
best services and products. One company is known to be extremely
