If All Criteria in the Decision Are Equal, Weighting the Criteria

question 10

Multiple Choice

If all criteria in the decision are equal, weighting the criteria ________.

• A) produces excellent decisions
• B) improves decision making when large numbers of criteria are involved
• C) improves the criteria
• D) is not needed

Recognize the influence of cognitive biases and heuristics on decision-making and judgments.

Distinguish between different types of cognitive heuristics: availability, representativeness, and belief perseverance.

Explain the process of concept formation and the impact of definitions and category hierarchies.

Identify and understand the cognitive processes involved in thinking, knowing, remembering, and communicating.

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Definitions:

Bonafide Purchase

The acquisition of goods or property in good faith without knowledge of any defects or claims against it.

Forged Cheque

refers to a check that has been illegally altered or signed without the account holder’s authorization, often with fraudulent intent.

Ownership Transfer

The process by which the legal rights and responsibilities of an asset are passed from one person or entity to another.

Heritage Property

Property designated due to its historical, cultural, or architectural significance, often protected by law.