Business Managers Are Often Overly Confident of Their Own Hiring

question 190

Multiple Choice

Business managers are often overly confident of their own hiring ability because they are more likely to monitor the successes of people they hired than the achievements of those they rejected.This illustrates that overconfidence may be facilitated by

• A) an algorithm.
• B) prototypes.
• C) the framing effect.
• D) confirmation bias.

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Definitions:

Low-Unit-Cost Items

Items or inventory that individually have a low value or cost but may collectively represent a significant value.

Inventory Cost Formula

An equation used to calculate the cost of ending inventory, taking into account the cost of goods sold, purchases, and beginning inventory, enabling accurate financial reporting and analysis.

Inventory Cost Formula

A method utilized for valuing the cost of goods sold and ending inventory, often using techniques such as First-In, First-Out (FIFO) or Last-In, First-Out (LIFO).

Cumulative Cost

The total cost accumulated for a project or an activity over a period of time.