Table 22-7 -Refer to Table 22-7.The Table Shows the Most Preferred Budget

question 284

Multiple Choice

Table 22-7

-Refer to Table 22-7.The table shows the most preferred budget of 75 voters.In an election,each voter will select the budget closest to his or her most preferred budget.Using this information,what is the most preferred budget of the median voter?

• A) $10
• B) $20
• C) $30
• D) $40

Identify the role of evidence-based management in decision-making processes.

Understand the importance of adopting international quality standards and continuous improvement in operations.

Comprehend the impact of consumer behavior and environmental changes on management practices.

Recognize the principles of human needs as per Maslow's theory.

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Definitions:

Cognitive Dissonance

The psychological discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Validity Effect

The phenomenon where repeated exposure to a statement increases the likelihood of accepting it as true.

Fundamental Attribution Error

is the tendency to overemphasize personality traits and underestimate situational factors when explaining others' behaviors.

Cognitive Dissonance

A psychological state in which an individual experiences discomfort due to holding conflicting cognitions, such as beliefs, attitudes, or values.