This quiz works best with JavaScript enabled. Home > Accounting > Decision Making > Information For Decision Making > Information For Decision Making – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Information For Decision Making Quiz 9 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... is the tendency for decision makers to falsely believe that they would have accurately predicted the outcome of an event once that outcome is actually known ( I knew it all along). A) The randomness bias. B) The sunk costs error. C) Self-serving bias. D) The hindsight bias. Show Answer Correct Answer: D) The hindsight bias. 2. Intuitive, automatic, emotional A) System 2. B) Heuristics. C) Anchoring bias. D) System 1. Show Answer Correct Answer: D) System 1. 3. When reading a magazine, Lisa pays attention to some ads but ignores the others. Which of the following types of selective perception is this an example of? A) Selective comprehension. B) Selective hearing. C) Selective exposure. D) Selective attention. Show Answer Correct Answer: D) Selective attention. 4. The process of making a choice or solving a problem. A) Decision Making. B) Integrity. C) Experience. D) Values. Show Answer Correct Answer: A) Decision Making. 5. When a manager assigns a problem to several people with different backgrounds is using A) Team decision making. B) Brainstorming. C) Rational decision-making. D) Intuitive decision making. Show Answer Correct Answer: A) Team decision making. 6. Which term is used to identify the tasks to be done, employees assigned to the work, and the time frame for completion of each task? A) Work outline. B) Work flowchart. C) Work schedule. D) Work calendar. Show Answer Correct Answer: C) Work schedule. 7. Brushing your teeth is an example of a/an ..... decision A) Easy. B) Routine. C) Impulsive. D) Major. Show Answer Correct Answer: B) Routine. 8. The process by which managers identify and resolve problems and capitalize on opportunities is referred to as ..... A) Motivating. B) Organizing. C) Controlling. D) Decision-making. Show Answer Correct Answer: D) Decision-making. 9. The owner of Paul's Diner solved the problem of customers experiencing long waits to be seated using which method? A) Osborn's creativity method?. B) PERT. C) The Pareto diagram. D) The Deming cycle. Show Answer Correct Answer: D) The Deming cycle. 10. A trend can be illustrated easily by using a A) Column chart. B) Line graph. C) Pie chart. D) Table. Show Answer Correct Answer: B) Line graph. 11. Which of the following is NOT determined by the personality of a customer? A) Whether the customer is a practical shopper. B) Whether the customer is loyal to certain brands. C) Whether the customer tends to use coupons. D) Whether the customer has awareness of the product. Show Answer Correct Answer: D) Whether the customer has awareness of the product. 12. A ..... model is used when making decisions between two alternatives A) Decision Tree. B) SWOT. C) Decision Matrix. D) PERT. Show Answer Correct Answer: A) Decision Tree. 13. Considering alternatives means A) Exploring all the options open to you and weight the advantages and the disadvantages. B) Exploring a two the options open to you and weight the advantages and the disadvantages. C) Making a different decision. D) Making no decision. Show Answer Correct Answer: A) Exploring all the options open to you and weight the advantages and the disadvantages. 14. Buy-in is a critical aspect of making a(n) ..... decision. A) Democratic. B) Consensus-based. C) Autocratic. D) Participatory. Show Answer Correct Answer: B) Consensus-based. 15. ..... is a systematic way to explore the consequences of specific choices using computer software. A) Symptom. B) Contingency Plan. C) What-if-analysis. D) Problem. Show Answer Correct Answer: C) What-if-analysis. 16. The basic barriers to effective decision making include A) Avoidance. B) Complacency. C) Panic. D) All of these options. Show Answer Correct Answer: D) All of these options. 17. There are two types of prepurchase information search ..... A) Quantitative & Qualitative Information Search. B) Manual & Digital Information Search. C) Internal & External Information Search. D) Audio & Visual Information Search. Show Answer Correct Answer: C) Internal & External Information Search. 18. When making a decision, you first have to define the A) Option. B) Problem. C) Solutions. D) Decision. Show Answer Correct Answer: B) Problem. 19. What is the FIRST step of the decision-making process? A) Make a decision. B) Determine need or want. C) Make a plan!. D) Evaluate choices. Show Answer Correct Answer: B) Determine need or want. 20. What functional area maintains the recording and listing of plant equiptment? A) Operations. B) Capital assets. C) Accounting. D) Maintenance. Show Answer Correct Answer: C) Accounting. 21. Researchers have identified 3 specific levels of consumer decision making:Routinized Response Behaviour, Limited Problem Solving, and ..... A) Intensive Problem Solving. B) Extensive Problem Solving,. C) Considered Problem Solving. D) Decision Problem Solving. Show Answer Correct Answer: B) Extensive Problem Solving,. 22. Decision making is ..... A) Choosing one alternative from among several. B) Motivating employees to pursue organizational goals. C) Fixing problems that arise in the operations of the business. D) Finding the answer to a question. Show Answer Correct Answer: A) Choosing one alternative from among several. 23. What is a primary concern of storing data? A) Size of files. B) Physical location of servers. C) Hadoop clusters. D) Data Safety and Privacy. Show Answer Correct Answer: D) Data Safety and Privacy. 24. Which kind of desicion making conditions means that a decision has clear-cut goals and that good information is available, but the future outcomes associated with each alternative are subject to chance? A) Risk. B) Uncertainty. C) Certainty. D) Ambiguity. Show Answer Correct Answer: A) Risk. 25. What can a model accomplish? A) Calculate risks. B) Understand uncertainty. C) Manipulate time. D) All of the above. Show Answer Correct Answer: D) All of the above. 26. If a supervisor spends a little time helping an employee improve his or her work procedures, that employee will most likely A) Become less productive. B) Value the support. C) Resent the supervisor. D) Move into management. Show Answer Correct Answer: B) Value the support. 27. The fourth step of the decision making process is A) Analyze your resources. B) Gather information. C) Identify your options. D) Make a decision. Show Answer Correct Answer: B) Gather information. 28. Which of the following is a strategy for responsible decision making? A) Procrastination. B) Doing it on your own. C) Listing alternative decisions. D) Impulse decisions. Show Answer Correct Answer: C) Listing alternative decisions. 29. Which of the following is a quantitative model typically used by a DSS? A) Sensitivity analysis. B) What-if analysis. C) Goal-seeking analysis. D) All of the above. Show Answer Correct Answer: D) All of the above. 30. ..... are the fundamental guidelines for the decisions and actions of managers. A) Planning. B) Executives. C) Controlling. D) Management Principles. Show Answer Correct Answer: D) Management Principles. ← PreviousNext →Related QuizzesDecision Making QuizzesAccounting QuizzesInformation For Decision Making Quiz 1Information For Decision Making Quiz 2Information For Decision Making Quiz 3Information For Decision Making Quiz 4Information For Decision Making Quiz 5Information For Decision Making Quiz 6Information For Decision Making Quiz 7Information For Decision Making Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books