Sunk cost fallacy Samenvattingen, Aantekeningen en Examens

wpc 300 final Study Guide Exam latest 2024/2025 Principles of Problem Framing - CORRECT ANSWER-Tell, find and routinize Tell an interesting and complete story - CORRECT ANSWER-The problem you address should be meaningful Solution could be reused for related problems Assumptions, boundaries Find an appropriate solution framework - CORRECT ANSWER-Break down the problem into pieces Iterative process (agile vs waterfall) Identify appropriate analytical/modeling techniques Routinize the...

Confirmation Bias a tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence How to Identify Sources of bias Incomplete information intentional deception influence from past personal experience intentional persuasion to strengthen a position common types of cognitive biases - Bandwagon - Anchoring - The Dunning-Kruger Effect - The Sunk Cost Fallacy Bias - Optimism and Pessimism Bias - The Framing Effect Bias - C...

Anchoring the tendency, in making judgments, to rely on the first piece of information encountered or information that comes most quickly to mind example of anchoring bias estimates made in the presence of an anchor are closer to the anchor. Ex: Prime someone with a large number and then tell them to estimate the cost, they will have a higher estimate than if they weren't anchored with the higher number. Confirmation Bias tendency to search for information that reinforces your ...

Confirmation Bias a tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence How to Identify Sources of bias Incomplete information intentional deception influence from past personal experience intentional persuasion to strengthen a position common types of cognitive biases - Bandwagon - Anchoring - The Dunning-Kruger Effect - The Sunk Cost Fallacy Bias - Optimism and Pessimism Bias - The Framing Effect Bias - Confirmation B...

Confirmation Bias correct answers a tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence How to Identify Sources of bias correct answers Incomplete information intentional deception influence from past personal experience intentional persuasion to strengthen a position common types of cognitive biases correct answers - Bandwagon - Anchoring - The Dunning-Kruger Effect - The Sunk Cost Fallacy Bias - Optimism and Pessimism...

What is empirical evidence? Evidence arising from systematic testing or experimentation What is the best form of evidence/info. and the worst form of evidence/info.? Best: review or synthesis of multiple experiments and randomized controlled experiments Worst: personal experience and anecdotes Provide an example of when empirical evidence helped a company save money 7/11 wanted to improve service...they randomly assigned 15 stores to a courtesy control group where the clerks no...

Most people think_____ will motivate them more than it actually does pay Making work _______ challenging may motivate better than making a job easier more Employers _______ the power of acknowledgment and thanks underestimate Common sense is necessary - but not sufficient for predicting human behavior in organizations• Success: task skills + management skills Behavior is predictable What is empirical evidence? in modern science - evidence arisin...

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WGU D265 critical thinking reason and evidence – course requirement solution Confirmation Bias - a tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence How to Identify Sources of bias Incomplete information intentional deception influence from past personal experience intentional persuasion to strengthen a position common types of cognitive biase - Bandwagon - Anchoring - The Dunning-Kruger Effect - The Sunk Cost Fa...

PSYC Chapter 15 Review Practice Exam 2024. T/F: The invincibility fable reflects adolescent egocentrism. - CORRECT ANSWER True T/F: Adults are usually aware of the "sexting" that occurs between adolescents. - CORRECT ANSWER False T/F: Parents and teachers are often unaware of cyberbullying among adolescents. - CORRECT ANSWER True T/F: Andre, an adolescent, constantly thinks about himself and how others perceive him. This egocentrism is common at his age. - CORRECT ANSWER True T/F...