#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 of the following is a characteristic of group decision-making?
Higher likelihood of bias
ExplanationIncreased risk of biased decisions.
#8
Which decision-making model assumes that decision-makers have limited information processing capabilities?
Bounded rationality model
ExplanationAcknowledges cognitive limits in decision-making.
#9
Which decision-making technique involves ranking options based on their relative importance?
Paired comparison analysis
ExplanationComparing choices in pairs to determine preferences.
#10
Which of the following is NOT a factor affecting decision-making in organizations?
Societal norms
ExplanationExternal cultural influences on choices.
#11
Which decision-making model involves a systematic evaluation of potential risks and uncertainties?
Risk management model
ExplanationAssessing and mitigating risks.
#12
What is the 'availability heuristic' bias in decision-making?
A tendency to judge the likelihood of an event based on its availability in memory
ExplanationEstimating probability based on memory accessibility.
#13
Which decision-making technique involves breaking down a problem into smaller, more manageable parts?
Decomposition
ExplanationDividing complex issues into simpler components.
#14
Which decision-making model emphasizes the importance of incremental adjustments to reach a decision?
Incremental decision-making model
ExplanationMaking decisions through gradual modifications.
#15
What is the 'anchoring bias' in decision-making?
A tendency to anchor decisions to irrelevant information
ExplanationBeing unduly influenced by initial data points.
#16
Which decision-making model involves identifying, comparing, and selecting the best alternative?
Rational decision-making
ExplanationSystematically selecting optimal choices.
#17
What is 'game theory' in the context of decision-making?
A branch of mathematics that studies strategic interactions
ExplanationAnalyzing strategic choices and outcomes.
#18
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.
#19
What is the 'Ooda Loop' in decision-making?
A decision-making process involving observation, orientation, decision, and action
ExplanationIterative process of observing and reacting.
#20
What is the 'six thinking hats' technique in decision-making?
A method for considering multiple perspectives in decision-making
ExplanationApproaching problems from different viewpoints.
#21
What does the acronym DMAIC stand for in the context of decision-making?
Define, Measure, Analyze, Improve, Control
ExplanationStructured approach to process improvement.
#22
What is the 'escalation of commitment' bias in decision-making?
A tendency to stick to a failing course of action
ExplanationPersisting with a failing strategy.
#23
What is the 'premature optimization' trap in decision-making?
Attempting to improve a solution before fully defining the requirements
ExplanationOptimizing without complete understanding.
#24
What is the 'groupthink' phenomenon in decision-making?
A tendency to prioritize group harmony over critical evaluation of alternatives
ExplanationValuing consensus over independent thinking.
#25
What is 'bounded awareness' in decision-making?
A tendency to overlook important information when making decisions
ExplanationMissing relevant data due to cognitive limitations.