Framing bias - Study guides, Class notes & Summaries

Finance API 141: Behavioral Finance: Implications for Financial Management Multiple Choice Questions 1. Amy isthe chief financial officer of a retail toy store. Recently,she decided that the firm should expand its operations and open two additional stores. Within a very brief period, it was obvious that Amy had made a very bad decision in opening those stores, given that the economy is in the middle of a severe recession. In reflecting back on her decision, Amy realizes that she made a b...

WPC 300 final Questions and answers 2024/2025 QUIZ ONE - CORRECT ANSWERGamblers' fallacy is ______________ Framing effect bias A Zero risk bias A clustering illusion An endowment effect bias - CORRECT ANSWER-A clustering illusion When you keep eating the food you don't like precisely because you already bought the food, you are committing _______________ Endowment effect bias Sunk-cost fallacy Zero risk bias Availability heuristics bias - CORRECT ANSWER-Sunk-cost fallacy ______...

PSCI 2305 Practice Test Questions with Correct Answers Benefits of online news - Answer--Convenience, speed of getting info, depth of info, diversity of viewpoints -Mainstream and non mainstream Concerns of online media - Answer--loss of investigative power - more variation in the quality of news, -potential effects on knowledge and -tolerance, social media as a propaganda Agenda setting - Answer--Involves identifying issues politicians will notice -Brings public attention to parti...

PSYCH 115 Final Exam Questions and Answers 100% Pass Which of the following is an overt behavior - Answer- Reaction Time Which of the following is NOT part of the scientific method - Answer- Report conclusions directly to the media You are teaching Psych-115 and all of your students correctly answer every question on the first test. When trying to explain this success, the law of parsimony would lead you to assume: - Answer- Your students studied hard in order to correctly answer every q...

PSYCH 115 Final Exam Questions and Answers 100% Pass Which of the following is an overt behavior Reaction Time Which of the following is NOT part of the scientific method Report conclusions directly to the media You are teaching Psych-115 and all of your students correctly answer every question on the first test. When trying to explain this success, the law of parsimony would lead you to assume: Your students studied hard in order to correctly answer every question Which of th...

WGU C207 Module Quizzes Multi Choice Version Data-Driven Decision Making Exam Questions and Answers 100% Solved 2024 For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to... a. Statistics b. Analytics c. Management Science d. Histograms - answerb A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics might they employ to achieve t...

RMI 300 Final Exam ACTUAL Exam Questions and CORRECT Answers Framing- How to mitigate the Bias - CORRECT ANSWER- is the way we define the decision to be made. Think of a picture frame, which is a lens through which we see the situation. Some qualities are inside and some outside. -Restate/reframe the issue before making a decision. -Work towards neutral representations. -Recognize the influence of gains versus losses; most effective concessions are those that reduce the opponents los...

For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to... a. Statistics b. Analytics c. Management Science d. Histograms - b A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics might they employ to achieve this goal? a. Descriptive Analytics b. Predictive Analytics c. Prescriptive Analytics d. Diagnostic Analytics -c What type...

heuristics : mental shortcuts, one thing affects how we view a much larger thing Dangers: • Avoids the depth of an equation • could be persuaded by framing (the story) rather than the actual data false equivalency : a logical fallacy in which two opposing arguments appear to be logically equivalent when in fact they are not - One interview is with a geologist who represents 97% of scientists who claim global warming is at least partly caused by human behavior and one alternative ...

WGU C207 Data Driven Decision Making Test | Questions and Correct Answers | Latest Update 2024/2025 Frame the Problem, Solving the Problem and Communicating Results are part of which decision making model? - Answer -Davenport-Kim three-stage model In which stage of the Davenport-Kim model is problem recognition? - Answer -Framing the problem In which stage of the Davenport-Kim model is data collection? - Answer -Solving the problem What is a key reason we study statistics? - Answer -T...