#1
Which of the following is a common heuristic used in decision-making?
Availability Heuristic
ExplanationJudging likelihood based on memory accessibility.
#2
In decision-making, what does the term 'confirmation bias' refer to?
Seeking information that supports one's pre-existing beliefs
ExplanationPreferring data that confirms existing beliefs.
#3
What is the primary purpose of a decision tree in decision analysis?
Facilitating decision-making by mapping out alternatives and their possible consequences
ExplanationHelps visualize choices and outcomes.
#4
What is the 'satisficing' approach in decision-making?
Choosing an option that meets minimum criteria
ExplanationAccepting a satisfactory solution, not necessarily optimal.
#5
Which decision-making bias involves giving preference to information that confirms pre-existing beliefs?
Confirmation bias
ExplanationFavoring data that aligns with existing views.
#6
In decision-making, what does the acronym RACI stand for?
Responsible, Accountable, Consulted, Informed
ExplanationRoles and responsibilities in decision processes.
#7
Which decision-making model involves identifying, comparing, and selecting the best alternative?
Rational decision-making
ExplanationSystematically selecting optimal choices.
#8
What is 'game theory' in the context of decision-making?
A branch of mathematics that studies strategic interactions
ExplanationAnalyzing strategic choices and outcomes.
#9
Which decision-making strategy involves evaluating alternatives based on their potential outcomes and consequences?
Cost-benefit analysis
ExplanationWeighing pros and cons to make a choice.
#10
What is the 'Ooda Loop' in decision-making?
A decision-making process involving observation, orientation, decision, and action
ExplanationIterative process of observing and reacting.
#11
What is the 'six thinking hats' technique in decision-making?
A method for considering multiple perspectives in decision-making
ExplanationApproaching problems from different viewpoints.