We can put too much weight on anecdotal information and data picked up by chance, which is easily retrieved from memory. B. We may disregard information that does not fit our preconceptions. We may attribute a result to a cause when in fact it may be a random effect. Question 2 For a manager who finds their decision making process, which has already consumed considerable time and energy, going wrong, the best advice is: Selected Answer: Stop, discard the current method, and begin again using a new method. Question 3

Which of the following are TRUE statements about quasi-rationality? The perception of cues may be more or less analytical or intuitive depending on the nature of the task for Judgment and its complexity. According to Brother’s study (1986), the quasi-rationality of perception means that the same Judge often finds it difficult to explain the process to others and to reproduce the same Judgment consistently. Influences on quasi-rational Judgment are, framing effects, overconfidence, irrelevant learning, cognitive dissonance, sunk costs, stress, influence from others and personality.

Question 4 Which of the following factors are most likely to bias an individual’s selection of cues? Data availability. Personal preferences. Personal values. Question 5 Which of the following statements are False? The utility of money is independent of differing farming effects or continuum contexts. D. Managers tend to operate in analytical thinking mode at the extreme of the defined under quasi-rationality. Perception of cues is singular in nature, and each cue is processed independently. Question 6 Experienced managers are not necessarily likely to make better Judgments in an unfamiliar than new managers.

True Question 7 Which of the following statements is least true? As a person’s experience as a manager increases, their Judgment in both familiar and unfamiliar situations significantly improves. Question 8 Rationality is only a question of whether a choice is in line with a person’s beliefs and preferences and not a question of what sort of preferences and beliefs that person holds. False Question 9 Which two of the following personality characteristics are NOT likely to contribute to making good decisions? External locus of control.

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