MANAGEMENT CAP7 Exam Questions & Answers 100% Accurate!!

The tendency of people to view events as being more predictable than they really are is referred to as - ANSWERHindsight The ______ bias is demonstrated when managers add up all the money already spent on a project and conclude it is too costly to simply abandon it. . - ANSWERSunk- Cost Bob was unsure how his boss was going to react to his proposal, so he was careful to put an upbeat "spin" on the situation to emphasize the positive aspects rather than the negative aspects. Bob's method of presenting the situation demonstrates the ______ bias. - ANSWERframing Sam gave employees a 5% raise last year and expects to give the same raise this year, even though it will push his company's salaries above what is normally paid in the industry. This is an example of the ______ bias. Multiple choice question. - ANSWERanchoring and adjustment When decision makers increase their commitment to a project despite negative information about it, they are experiencing which type of bias? - ANSWEREscalation of Commitment People with a conceptual decision-making style are likely to do which of the following? - ANSWER-rely on intuition-find creative solutions-take risks Sam follows Fox News Channel on Facebook so she can occasionally see news from a viewpoint that contrasts with the posts on her regular Newsfeed. As a result, Facebook mislabels Sam as "conservative." What is this an example of? - ANSWERCategorical thinking bias The ______ bias occurs when people's positive feelings about their own decision-making ability is greater than their objective accuracy. Multiple choice question. - ANSWERoverconfidence All of the following are advantages to group decision making except ______. - ANSWERsuperiors dominating or intimidating the group