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:

Aggregate Planning

A marketing activity that aims to balance supply and demand in the long-term, integrating major functions like sales, manufacturing, and finance.

Years

Units of time equal to 365 days (or 366 days in a leap year), used as a measure of time passing.

Linear Programming

A mathematical technique for optimizing a linear objective function, subject to linear equality and inequality constraints.

Overtime

Time worked by employees beyond their normal working hours, typically compensated at a higher pay rate.