Psy 215 decision making and judgement Lecture 4

1. What is decision-making primarily concerned with?

•  A) Selecting the best alternative among various options

•   B) Forming opinions

•  C) Analyzing past experiences

     

•    D) Predicting future events

2. Which of these is not a stage in the decision-making process?

 

•   A) Problem Identification

   

•   B) Information Gathering

•    C) Approval Process

    

•  D) Evaluating Alternatives

3. Judgment can be defined as:

   

• A) A decision-making process that results in action

   

•   B) The cognitive process of evaluating and forming opinions about information

    

•  C) A biased way of assessing profitability

    

•  D) A method for resolving conflicts

4. What is an example of a programmed decision?

  

•  A) Deciding to enter a new market

    

•  B) Choosing a promotional campaign

    

•  C) Following a fixed procedure for payroll processing

• D) Selecting a new software vendor as a group

5. In decision-making types, which one describes a cost-benefit analysis as part of the process?

  

•  A) Emotional Decision

     

• B) Tactical Decision

    

•  C) Group Decision

•  D) Rational Decision

   

6. What does the Intuitive Decision-Making Model emphasize?

 

•   A) Extensive research and analysis

    

• B) Logical reasoning processes

    

• C) Gut feelings or instincts

    

• D) Following bureaucratic procedures

7. Which cognitive bias refers to the tendency to rely too heavily on the first piece of information encountered?

 

• A) Anchoring Bias

     

• B) Hindsight Bias

    

• C)   Overconfidence Bias

• D) Sunk Cost Fallacy

8. What is the sunk cost fallacy?

 

• A) Investing more resources based on previous successes

• B) Continuing a project due to previously invested resources

    

• C) Ignoring new information

    

• D) Judging a situation based on past failures

9. Which of the following is a characteristic of the Garbage Can Model?

•    A) Highly structured decision-making

    

•  

     B) Decisions made solely based on past data

• C) Decisions without a formal agenda in chaotic environments

   

• D) Only individual decisions implemented

10. The confirmation bias typically affects which aspect of decision-making?

•     A) The collection of information

   

•    B) Evaluation of alternatives

    

•   C) Predictive analysis

     

•  D) Interpretation of data