When Walmart Tried to Use the Same Model That Worked

question 90

Multiple Choice

When Walmart tried to use the same model that worked for them in the USA in the rest of the world,they were acting on which type of cognitive bias?

• A)Systematic errors
• B)Representative bias
• C)Fundamental attribution error
• D)Illusion of control and overconfidence bias
• E)Prior hypothesis bias

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Definitions:

Planning Budget

A budget that outlines the income, expenses, and goals of a company or project within a specific time period, serving as a financial roadmap.

Selling

The process of persuading potential buyers to purchase a product or service.

Administrative Expenses

Costs associated with the general administration of a business, such as salaries of executive officers, legal and professional fees.

Flexible Budget

A budget designed to change in response to variations in volume or activity levels.