If a Manager Sees a Potential Outlier in the Data

question 2

True/False

If a manager sees a potential outlier in the data, he or she should first determine whether the data is correct.

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Definitions:

System 2

System 2 is a concept from cognitive psychology that describes the deliberative, analytical, and conscious way of thinking, as opposed to the fast, automatic, intuitive thinking of System 1.

Package Sizes

The dimensions or volume of the container or packaging material used to encase products for distribution, sale, or storage.

Positive Outcomes

Favorable results or benefits achieved from particular actions or activities, especially in the context of decisions or policies.

Anchoring

A cognitive bias that describes the human tendency to rely too heavily on the first piece of information offered when making decisions.