Middleton Has Developed the Flybar 1200, an Extreme Pogo Stick

question 7

Multiple Choice

Middleton has developed the Flybar 1200, an extreme pogo stick that propels users more than 1.5 metres into the air. A group was assigned the task of estimating preliminary demand for the product, costs (including issues with liability) , sales, and future profitability. During which stage of its new-product development process would this have occurred?

• A)business analysis
• B)concept testing
• C)screening
• D)test marketing

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Definitions:

Backfill Bias

A bias that can occur when historical performances of investment portfolios are artificially inflated because only successful funds are reported or included in analyses.

Incentive Bias

A psychological lean or predisposition towards certain decisions or actions due to promised rewards or incentives.

Survivorship Bias

The error of focusing on the successes or survivors in a group and overlooking those that failed, which can lead to overly optimistic beliefs or conclusions.

Reporting Bias

A tendency to selectively choose or promote certain outcomes, data, or studies over others, which can lead to a distorted view of reality.