The Quantitative Approach to Management Was Largely Used to Improve

question 122

Multiple Choice

The quantitative approach to management was largely used to improve ________.

• A)productivity
• B)efficiency
• C)decision making
• D)planning

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Definitions:

Anchoring

Overestimation of the importance of a factor by focusing on it to the exclusion of other relevant factors.

Framing

The way information is presented so as to emphasize either a potential gain or a potential loss as the outcome.

Representativeness Heuristic

is a cognitive shortcut where the likelihood of an object belonging to a category is assessed based on its similarity to a typical case from that category.

Heuristics

Mental shortcuts or rules of thumb that ease the cognitive load of making a decision, often leading to approximation or educated guesses.