Q31. A __________ is the degree of likelihood of an event\'s occurrence. a. Pote

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Q31. A __________ is the degree of likelihood of an event's occurrence.
   a. Potentiality.
   b. Expectation.
   c. Prospect.
   d. Probability.
   e. Feasibility.

Q32. What decision making concept is reflected in the popular adage, 'If at first you don't succeed, try, try again?'
   a. Intuition.
   b. Escalating commitment.
   c. Bounded rationality.
   d. Nonprogrammed decision making.
   e. Satisficing.

Q33. New information technology is extremely capable of dealing with the issues raised by the garbage can model of decision making.
   a. True
   b. False

Q34. The __________ is a tendency for the decision maker to overestimate the degree to which he or she could have predicted an event that has already taken place.
   a. Regret trap.
   b. Second guessing trap.
   c. Hindsight trap.
   d. Confirmation trap.
   e. Affirmation trap.

Q35. The central premise of the decision-making model developed by Vroom, Yetton, and Jago is that __________.
   a. Decisions should be made in the most cost-efficient manner possible.
   b. Group decision making is superior to authority or consultative decision making.
   c. Authority decisions are superior to consultative decisions.
   d. Consultative decisions are superior to authority decisions.
   e. The decision-making method used should always be appropriate to the problem being solved.

Q36. In organizations where the setting is dynamic, the technology is changing, demands are conflicting, or the goals are unclear, the contents of the garbage can get __________.
   a. Sorted out.
   b. Clarified.
   c. Changed.
   d. Mixed up.
   e. Squashed.

Q37. Problem-solving decisions in organizations are typically made under three different conditions or environments. These are __________.
   a. Confidence, chance, and doubt.
   b. Certainty, risk, and uncertainty.
   c. Conviction, hazard, and concern.
   d. Certainty, jeopardy, and skepticism.
   e. Confidence, hazard, and doubt.

Q38. The __________ involves assessing an event by taking an initial value from historical precedent or an outside source, and then incrementally adjusting this value to make a current assessment.
   a. Anchoring and adjustment heuristic.
   b. Availability heuristic.
   c. Representativeness heuristic.
   d. Suitability heuristic.
   e. Equivalence heuristic.

Q39. Classical decision theory appears to fit very well in today's chaotic world of globalizing high-tech organizations.
   a. True
   b. False

Q40. __________ can lead to systematic errors that affect the quality, and perhaps ethical implications, of any decision that is made.
   a. Disciplines.
   b. Regulations.
   c. Heuristics.
   d. Rules.
   e. Codes.

Explanation / Answer

Answer 31.: d. Probability.

Probability is the measure of the likelihood that an event will occur. Probability is quantified as a number between 0 and 1 i.e. where 0 indicates impossibility and 1 indicates certainty.

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