CIS105 Final Exam Arizona State University New Update Actual Test with complete solution

The Halo Effect can be explained as - Answer-An effect in which an observer may tend to bend their judgment based on a specific characteristic. Which of the following would be a situation where the halo effect is irrelevant? - Answer-Waiting for an outcome that depends on an act of nature. Which of the following is not an example of the Halo effect? - Answer-Choosing a restaurant based on the reviews by food bloggers instead of choosing a place based on how beautiful its pictures look online. A person's _________ can affect the degree of influence of the halo effect. - Answer-Emotional state. When dealing with children, Parents can handle the halo effect by: - Answer-Appreciating their children's' existing talents and encouraging development of new talents. "Sasha scores an 'A' on every one of her tests. I bet she could be a good student leader." This is an example of: - Answer-The halo effect. Network effects are characterized by a positive-feedback loop, where the biggest networks continue to grow bigger. What implication does this positive-feedback loop have on network markets? - AnswerEarly, fierce competition between rivals. Which of the following factors is responsible for the possibility of Moore's Law? - Answer-The distance between pathways inside silicon chips gets smaller with each successive generation. Which of the following statements is a valid reason for chip manufacturers to carry minimal inventory? - Answer-Products with a significant chip-based component rapidly fall in value and can cause huge losses when overproduced. Which of the following is an example of a one-sided market? - Answer-Cell phone networks.Which amongst the following is an outcome of the modern social media platform? - Answer-SEO, Wikis, Social Engagement. Collaborative consumption can be described as: - Answer-A system that enables customers to obtain and provide resources via a platform. Jane believes that its mushrooms are more toxic to the human body as compared to peanuts. What would the availability heuristic tell us about Jane? - Answer-She has probably read up on the toxicity and adverse effects of consuming mushrooms. The availability heuristic may lead to incorrect conclusions to certain problems. Why does it happen? - Answer-The availability heuristic does not make judgements about the frequency of events. Which one of the following is NOT a good example of the framing effect? - Answer-Profit for the year 2018 decreasing by $2000. ___________ occurs when the choice made by a person is affected by how the information about an item is presented. - Answer-Framing effect Users who edit Wikipedia content in a manner that is biased and opinionated are said to be violating Wikipedia's stated policy of: - Answer-neutral point of view. Many firms use _____ for managing information overload, opting to distribute content virally rather than via e-mail. - Answer-RSS feeds A prediction market involves: - Answer-polling a diverse crowd and aggregating opinions to form a forecast of an eventual outcome. _____ applications can overlay real data on top of images from a GPS and compass-equipped smart phone. - Answer-Augmented realityIn a survey, students were given the base rate information that is either consistent or inconsistent with the 'typical doctor'. To decide whether a particular person is a doctor indeed, the students would tend to use information pertaining to the _________ and ignore the _________ information. - AnswerRepresentativeness; Base rate ______________ occurs when a person judges the occurrence of an outcome without considering prior knowledge of the probability that it will occur. - Answer-Base rate fallacy