Skittish and Untrusting Managers Should Realize That the First Findings

question 79

True/False

Skittish and untrusting managers should realize that the first findings of analytics always reveal an optimal course of action.

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Definitions:

Representativeness Bias

A cognitive bias leading individuals to make judgments about the probability of an event based on how much it resembles their existing stereotypes, rather than based on actual evidence or likelihood.

Mental Accounting

The process by which individuals categorize and evaluate economic outcomes by organizing them into specific accounts in their minds.

Framing Bias

A cognitive bias where people decide on options based on whether the choices are presented with positive or negative connotations.

Positively Correlated

A relationship between two variables where they move in the same direction, meaning as one variable increases, the other does as well.