Case-Based Critical Thinking Questions

question 62

Multiple Choice

Case-Based Critical Thinking Questions
Case 2-2

Nevia is using Goal Seek for the first time. She is determining what to put in each text box inside the Goal Seek dialog box shown in the above figure.
-At the end of the project, Nevia is very pleased with the results and is giving a demo of Goal Seek to a few of her co-workers. To open Goal Seek, her first step is to click the ____ tab on the ribbon.

• A) FORMULAS
• B) PAGE LAYOUT
• C) REVIEW
• D) DATA

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Definitions:

Endowment Effect

A psychological phenomenon in which people assign higher value to things merely because they own them.

Loss Aversion

In prospect theory, the property of most people’s preferences that the pain generated by losses feels substantially more intense than the pleasure generated by gains.

Anchoring Effect

A cognitive bias where an individual relies too heavily on an initial piece of information (the "anchor") when making decisions.