Chapter 7 Multiple Choice Questions

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. What are characteristics of a programmed decision?

Complex and risky correct incorrect

Uncertain and non-routine correct incorrect

Low risk and certain correct incorrect

Routine and non-complex correct incorrect

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. Of what is an investment decision an example?

Programmed decision correct incorrect

Routine decision correct incorrect

Management decision correct incorrect

Non-programmed decision correct incorrect

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. What is not an assumption underpinning the rational decision making model?

Incomplete information correct incorrect

An agreed goal correct incorrect

A structured problem correct incorrect

High level of certainty regarding the environment correct incorrect

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. Simon (1960) is associated with what type of decision making model?

Rational correct incorrect

Classical correct incorrect

Programmed correct incorrect

Administrative correct incorrect

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. What is the term for decisions limited by human capacity to absorb and analyse information?

Cognitive rationality correct incorrect

Conscious rationality correct incorrect

Bounded rationality correct incorrect

Restricted rationality correct incorrect

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. What is the term for a sub-optimal but acceptable outcome of negotiations between parties?

Bargaining correct incorrect

Satisficing correct incorrect

Accepting correct incorrect

Compromising correct incorrect

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. What is intuitive decision making based on?

Guesswork correct incorrect

Gambling correct incorrect

Instinct correct incorrect

Rationality correct incorrect

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. Which of these does not form part of the key streams identified by March (1988) in decision making in highly ambiguous environments?

Expectations correct incorrect

Choice opportunities correct incorrect

Problems correct incorrect

Solutions correct incorrect

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. What assumption is the garbage can model of decision making based on?

Limited knowledge and great insight correct incorrect

Limited knowledge but high level of experience correct incorrect

Limited knowledge and uncertainty correct incorrect

Limited knowledge and high risk correct incorrect

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. What is the term for the 'rule of thumb' type of bias in decision making?

Framing bias correct incorrect

Hindsight bias correct incorrect

Over-confidence bias correct incorrect

Heuristics correct incorrect