When deciding on the catering budget for her upcoming wedding, Kris was told that typically around 10% of invited guests usually decline. Kris is using a(n) ________ to simplify her decision making.
A. cognitive bias
B. confirmation bias
C. dialectical inquiry
D. heuristic
E. illusion of control
Answer: D
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When Jason watches the news, he filters what he hears to suit his own needs, biases, and expectations. Which of the following is Jason using?
a. selective memory b. selective exposure c. selective attention d. selective perception
In the "new era" of manufacturing, good performance indicators are
a. production-based. b. sales-based. c. cost-based. d. consumer-based.
Ratios provide little information unless the analyst places them in a context. After calculating the ratios, the analyst must compare them with some standard. Which of the following is not a possible standard?
a. The planned ratio for the period. b. The corresponding ratio during the preceding period for the same firm. c. The corresponding ratio for a similar firm in the same industry. d. The average ratio for other firms in the same industry. e. The corresponding ratio during the succeeding period for the same firm.
Which of the following is correct concerning the design of pie charts?
a. Position the smallest slice or the slice to be emphasized beginning at the twelve o'clock position. b. Working counterclockwise, place all slices in descending order of size. c. Label only important slices with information about the quantity (percent, dollars, etc.) of each slice. d. If you are unable to attractively place the appropriate labeling information beside each slice, use a legend to identify each slice by color or pattern.