SCENARIO 12-1 You Are Making a Decision Whether to Discontinue

question 27

Multiple Choice

SCENARIO 12-1 You are making a decision whether to discontinue research on a new drug.This new drug would save lives, but it is uncertain whether it can be developed within a reasonable time frame and at a reasonable cost.Your firm has already spent a small fortune on this drug.You have gathered so much information in preparation for making the decision that you are unable to sort the good information from the superfluous.
You state to the committee helping you that all information and research on this drug and the disease it is to treat has been sorted and processed into the 36 binder that are on the table in front of them.In making this statement and assuming you have complete information you are committing

• A)confirmation bias.
• B)optimal solution.
• C)lateral approach.
• D)fundamental attribution error.
• E)risk aversion.

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Definitions:

Compulsive Behaviors

Actions driven by an irresistible urge, typically counterproductive and detrimental to the individual's wellness.

First-Degree Relatives

Immediate family members, including parents, siblings, and children, emphasizing their genetic connections.

Independent Variable

In an experiment, the variable that is purposely changed or varied by the researcher to explore its impact on the dependent variable.

Dependent Variable

In an experimental study, the variable that is tested and measured to see if it is affected by changes in the independent variable.