Which of the Following Observations Is True About Scattergrams

question 93

Multiple Choice

Which of the following observations is true about scattergrams?

• A)They help in identifying the most important cause of a problem.
• B)They are useful for understanding the amount of variance between an outcome and the expected value or average outcome.
• C)They help employees determine whether the relationship between two variables or events is positive, negative, or zero.
• D)They assume that that the majority of problems are the result of a small number of causes.
• E)They are useful for identifying redundancy in processes that increase manufacturing or service time.

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Definitions:

Over-Confidence

A cognitive bias where an individual's belief in their own abilities or the prospects of a situation are excessively optimistic beyond what evidence supports.

Regret Aversion

A psychological effect where individuals avoid making decisions that could result in action-based regret, affecting investment choices and risk-taking behaviors.

Short-Term Losses

Financial losses realized on the sale or exchange of an asset held for one year or less.