Organisational Behaviour Knowledge

question 96

Multiple Choice

Organisational behaviour knowledge:

• A) Originates mainly from models developed in chemistry and other natural sciences
• B) Accurately predicts how anyone will behave in any situation
• C) Is more appropriate for people who work in computer science than in marketing
• D) Helps us to understand,predict and influence the behaviours of others in organisational settings

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Definitions:

Prior Probabilities

The probabilities of different outcomes or hypotheses as estimated before any new evidence or data is taken into account.

Payoff Table

A decision-making tool that summarizes the various outcomes and their respective rewards or costs for different strategies or decisions.

Expected Monetary Value

The predicted value of a financial transaction, taking into account all possible outcomes weighted by their probabilities.

Perfect Information

A condition in decision-making where all relevant information is known to the decision-maker, including outcomes, events, and consequences for every choice.