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Information For Decision Making Quiz 4 (20 MCQs)

Quiz Instructions

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1. The action step that requires you to do something is .....
2. Individuals with expertise in the area in question, such as your physician, pharmacist, or physical therapist can all be considered as ..... sources to assist in the decision making process.
3. When a manager makes a decision after talking to his/her subordinates and having them vote on the matter, this is what style of decision making?
4. Fill in the blank. Staff with knowledge, skills, and experience help to ..... the likelihood of a successful outcome.
5. When you don't have all the data and can't get data, the best way to make a decision is
6. Which one of these sources of finance may involve the payment of a dividend?
7. How can a person determine that a decision was a good one?
8. What is opportunity cost?
9. ..... are the small intervals and standards used to make your decisions.
10. Refers to the tendency of people in groups to suppress contrary opinions in a desire for harmony
11. Which common business activity involving math skills uses data to set numerical goals or standards?
12. Which of the following is a disadvantage of buying a used car?
13. Consumer decision rules are referred to as heuristics, decision strategies, and information-processing strategies, and are procedures used by consumers to ..... brand choices
14. Heuristics
15. A marketing mix is the blending of which marketing elements?
16. A decision making technique that uses a face-to-face group to spontaneously syuggest a broad range of alternatives for decision making is called
17. What integrates information from multiple components and tailors the information to individual preferences?
18. A manager who is reactive and works hard to address problems after they occur is known as a .....
19. A decision made in response to a situation that has occurred often enough to enable managers to develop decision rules to be applied in the future
20. When a manager makes a decision by looking at data, and surveys in order to make a product decision.
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