Examlex
A certain organization trying to decide where to locate their future factory is considering three locations.They are taking into account three factors: labor costs,currency stability,and proximity to market.Using the weights for each factor listed below and the scores achieved by each of the three considered locations,determine which location should be chosen for the new facility based on the weighted factory location model.?
Status Quo Bias
The preference to maintain current circumstances or resist changes.
Changing
Refers to the process of making something different from what it was before.
Immediate Outcomes
The direct results or effects that occur as a consequence of an action or event.
Omission Bias
The inclination to perceive actions that cause harm as more negative or morally inferior compared to equally damaging failures to act (omissions).
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