(Solved): WPC 300 : Quiz 11: Bias...

Quiz 11: Bias

Started: Nov 19

Quiz Instructions

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Question 1     1 pts

Over-reliant on the first piece of information is called ____________

Group of answer choices

• Bandwagon effect
• Zero risk bias
• Clustering illusion
• Anchoring bias

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Question 2          1 pts

Gamblers' fallacy is ____________.

Group of answer choices

• a clustering illusion
• an endowment effect bias
• framing effect bias
• a zero-risk bias

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Question 3          1 pts

When you keep eating the food you don't like precisely because you already bought the food, you are committing _____________.

Group of answer choices

• sunk-cost fallacy
• availability heuristics bias
• endowment effect bias
• zero risk bias

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Question 4        1 pts

Which of the following statements is true?

Group of answer choices

• Experimentation is a way of analytical thinking
• Using intuition is a way of analytical thinking
• Analytical thinking is not based on facts
• Heuristic thinking is slow

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Question 5        1 pts

Which of the following biases cannot be categorized as a cognitive bias?

Group of answer choices

• Groupthink
• Anchoring Bias
• Sunk cost fallacy
• None of the answer selections are correct

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Question 6       1 pts

A person who is convinced he is gaining admission to Harvard by merely applying is suffering from:

Group of answer choices

• Gambler’s fallacy
• Overconfidence
• Zero-risk bias
• None of the answer selections are correct

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Question 7       1 pts

When you buy a new car, you value it more than the price you paid because of:

Group of answer choices

• Zero-risk bias
• Endowment effect bias
• Sunk cost fallacy
• None of the answer selections are correct

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Question 8       1 pts

Which of the following is not a drawback of analytical decision making?

Group of answer choices

• Delayed action
• Lack of flexibility
• Frustration in teams
• None of the answer selections are correct

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Question 9      1 pts

You bought a top of the line laptop because your friends were so enthusiastic about theirs. Which kind of bias is in action here?

Group of answer choices

• Bandwagon effect
• Zero-risk bias
• Overconfidence
• Endowment effect

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Question 10      1 pts

What kinds of bias could show up when collecting data?

Group of answer choices

• Framing effect
• Sampling bias
• Self-selection bias
• All of the answer selections are correct