In the context of decision making, which of the following is NOT a common cognitive bias?

A) Recursion bias ✔
B) Overconfidence bias
C) Confirmation bias
D) Availability bias
E) Anchoring bias
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What is the term for making a decision based on the information readily available to us?
A) Representativeness heuristic
B) Availability heuristic ✔
C) Satisficing
D) Anchoring
E) Escalation of commitment
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Which decision-making model involves systematically assessing the pros and cons of different
options before making a decision?
A) Bounded rationality model
B) Intuitive decision-making model
C) Herbert Simon's model
D) Behavioral decision-making model
E) Rational decision-making model ✔
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Which of the following is an example of a non-programmed decision?
A) Selecting a vendor for routine office supplies
B) Addressing a unique customer complaint ✔
C) Using a decision tree to analyze potential outcomes
D) Choosing which route to take to work every day
E) Deciding how to allocate a limited budget for a project
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When making a decision under uncertainty, which tool is commonly used to map out the
possible outcomes and their probabilities?
A) Decision matrix
B) Pareto analysis
C) Decision tree ✔
D) SWOT analysis
E) Cost-benefit analysis
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Which decision-making style involves considering the opinions of others before making a final
decision?
A) Democratic
B) Autocratic
C) Bureaucratic
D) Consultative ✔
E) Laissez-faire
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What type of decision-making process is characterized by making quick, instinctual decisions
without much deliberation?
A) Normative decision making
B) Strategic decision making
C) Rational decision making
D) Analytic decision making
E) Intuitive decision making ✔
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Which of the following is NOT a step in the rational decision-making model?
A) Selecting the first option that comes to mind
B) Identifying the decision to be made
C) Evaluating the alternatives
D) Implementing the decision ✔
E) Generating alternative solutions
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Which cognitive bias involves placing too much importance on the first piece of information
received when making a decision?
A) Anchoring bias ✔
B) Availability bias
C) Recency bias
D) Hindsight bias
E) Confirmation bias
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What term describes the tendency to seek out information that aligns with our preexisting beliefs
and to ignore information that contradicts them?
A) Overconfidence bias
B) Confirmation bias ✔
C) Groupthink
D) Selection bias
E) Recency bias
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