Examlex
A work cell is required to make 500 computerized diagnostic assemblies (for installation into hybrid automobiles) each day. The cell currently works an eight hour shift, of which 7.5 hours is available for productive work. What is takt time for this cell?
Representativeness Heuristic
A cognitive shortcut used in decision-making, where the likelihood of an event is judged by how much it resembles existing stereotypes.
Affect Heuristic
The reliance on instinct instead of analysis in making decisions.
Endowment Effect
A cognitive bias in which individuals value an owned object higher than its market value, simply because they own it.
Affect Heuristic
A mental shortcut that influences decision-making based on emotions and feelings.
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