This quiz works best with JavaScript enabled. Home > Decision Making > Information For Decision Making > Information For Decision Making – Quiz 19 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Information For Decision Making Quiz 19 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Decisions about the daily operations of a specific unit in a business are the responsibility of A) Top level of management. B) Middle management. C) Supervisors. D) Employees. Show Answer Correct Answer: C) Supervisors. 2. A reference group has the least influence on a person for buying which of the following items? A) A car. B) A life insurance plan. C) A dress. D) None of above. Show Answer Correct Answer: B) A life insurance plan. 3. Possible, able to happen; something that can develop or become a reality. A) Scarcity. B) Potential. C) Priority. D) Inappropriate. Show Answer Correct Answer: B) Potential. 4. An organization does NOT allow people A) To use power and authority more productively. B) To set their own agenda. C) To become specialized in their own work tasks. D) To understand and react to external forces more efficiently. Show Answer Correct Answer: B) To set their own agenda. 5. This step in analytics process where the mathematical analytics work is performed, A) Data Understanding. B) Exploration. C) Data Preparation. D) Modeling. Show Answer Correct Answer: D) Modeling. 6. What should you try to balance when reducing decision-making risk? A) Cost and benefit of the decision. B) Gathering information and time. C) Gathering information and risk. D) Gathering information and impact. Show Answer Correct Answer: B) Gathering information and time. 7. What is something that stands in your way? A) Decision. B) Outcome. C) Attitude. D) Obstacle. Show Answer Correct Answer: D) Obstacle. 8. Which of these is not a characteristic of good information? A) Targeted. B) Complete. C) Up to Date. D) Dynamic. Show Answer Correct Answer: D) Dynamic. 9. If a rooster lays a egg on a slanted roof which side will it fall? A) Down. B) Up. C) Left. D) There is no egg. Show Answer Correct Answer: D) There is no egg. 10. What you give up when you choose one alternative over another. The alternative you don't choose. A) Trade-Off. B) Opportunity Cost. C) Instant Gratification. D) None of above. Show Answer Correct Answer: A) Trade-Off. 11. ..... occurs when decision makers think they know more than they do or hold unrealistically positive views of themselves and their performance. A) Overconfidence. B) Immediate gratification. C) The anchoring effect. D) Selective perception. Show Answer Correct Answer: A) Overconfidence. 12. Indicates what might happen in the future with an acceptable level of reliability, including a few alternative scenarios and risk assessment. A) Predictive analytics. B) Descriptive analytics. C) Prescriptive analytics. D) Transcriptive analytics. Show Answer Correct Answer: A) Predictive analytics. 13. Outcome A) Result of a decision. B) Result of a consequence. C) Result of an option. D) Result of an alternative. Show Answer Correct Answer: B) Result of a consequence. 14. This idea involves making the lives of consumers, workers, or the community better. A) Social values. B) Timing. C) Risks. D) Economics. Show Answer Correct Answer: A) Social values. 15. What is Heuristics? A) Mental short-cut. B) Motivation. C) Adrenaline. D) Excitement. Show Answer Correct Answer: A) Mental short-cut. 16. Which kind of desicion making conditions means that all the information the decision maker needs is fully available? A) Certainty. B) Risk. C) Uncertainty. D) Ambiguity. Show Answer Correct Answer: A) Certainty. 17. What is a product review? A) Information about the product from the manufacturer. B) An opinion and rating of a product from another consumer that has also purchased the same product. C) What someone thinks the product would be like if you bought it. D) The price of the product. Show Answer Correct Answer: B) An opinion and rating of a product from another consumer that has also purchased the same product. 18. Which kind of desicion making conditions means that the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable? A) Certainty. B) Risk. C) Uncertainty. D) Ambiguity. Show Answer Correct Answer: D) Ambiguity. 19. Fundamental beliefs that are worthwhile and important to you A) Opportunity cost. B) Wants. C) Needs. D) Values. Show Answer Correct Answer: D) Values. 20. The three main models that managers use to make decisions are ..... A) Rational, irrational, and bounded rational. B) Intuitive, unintuitive, and rational. C) Bounded rational, intuitive, and systematic. D) Rational, bounded rational, and intuitive. Show Answer Correct Answer: D) Rational, bounded rational, and intuitive. ← PreviousNext →Related QuizzesDecision Making 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 8Information For Decision Making Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books