Managers Who Predict the Performance of a New Product by Relating

question 109

True/False

Managers who predict the performance of a new product by relating it to a previous product's success are demonstrating availability bias.

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Definitions:

Food Chain

A food chain describes a series of creatures each dependent on the next as a source of food, illustrating the flow of energy and nutrients from one organism to another across an ecosystem.

Organism

A living entity made up of one or more cells that is capable of growth, reproduction, and response to stimuli like bacteria, plants, and animals.

Stable Ecosystem

An ecosystem that remains relatively constant in its composition of species and the transfer of energy over time, demonstrating resilience to disturbances.

Balanced Ecosystem

An ecological state where natural systems are in harmony, with stable populations and sustainable interactions among organisms and their environment.