Which of the Following Statements Is True Regarding the Hindsight

question 2

Multiple Choice

Which of the following statements is true regarding the hindsight bias?

• A) It indicates a tendency to fixate on initial information and fail to adequately adjust for subsequent information.
• B) It indicates that we seek out information that reaffirms our past choices, and we discount information that contradicts them.
• C) It indicates our tendency to base judgments on information readily available.
• D) It indicates our tendency to believe falsely, after the outcome is known, that we would have accurately predicted it.
• E) It indicates our tendency to draw a general impression about an individual on the basis of a single characteristic, such as intelligence.

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Definitions:

Efficiency

The capacity to achieve a desired result with minimal waste of time, effort, or resources.

Human Relations Approach

A management theory focusing on the importance of social relationships, employee well-being, and motivation in the workplace.

Scientific Management

A management theory that emphasizes the use of scientific methods to optimize labor productivity and economic efficiency, originally developed by Frederick W. Taylor.

Vested Interests

Stakeholders or individuals who have a personal stake or benefit in a particular outcome or decision.