Suppose That You Are Working as an Industrial/organizational Psychologist for a Company.You've

question 72

Multiple Choice

Suppose that you are working as an industrial/organizational psychologist for a company.You've determined that the employees tend to be too confident about sales decisions that later turn out to be unwise.Remembering what you learned in your cognitive psychology course,your wisest decision would be to

• A)use the crystal-ball technique.
• B)use the meta-analysis technique.
• C)emphasize that the employees should try to find more information that confirms their beliefs,rather than disconfirming those beliefs.
• D)emphasize that the employees need to review the principles of propositional calculus.

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Definitions:

LIFO

Stands for Last In, First Out, an inventory valuation method which assumes that the last items placed in inventory are sold first.

Financial Statement

Documented records that outline the financial activities and condition of a business, individual, or other entity.

LIFO Reserve

The difference between the cost of inventory calculated under the LIFO method and its cost calculated under the FIFO method.

FIFO Firms

Companies that apply the First-In, First-Out method in their inventory management, recognizing the oldest inventory items as the first sold.