Systematic Errors in the Decision-Making Process Are Most Often Caused

question 40

Multiple Choice

Systematic errors in the decision-making process are most often caused by:

• A) inadequate information.
• B) information overload.
• C) cognitive biases of decision makers.
• D) poor data collection procedures.
• E) the devil's advocacy method.

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Definitions:

Raw Material

Basic materials that are used in the production of goods, finished products, or intermediate materials that are feedstock for future finished products.

Statistics

The science of collecting, analyzing, interpreting, and presenting data.

Data

The facts and figures collected, analyzed, and summarized for presentation and interpretation.

Nominal Scale

A measurement scale used for categorization without a natural order or rank.