After Graduating from University Your Are Planning to Get a Job

question 16

Multiple Choice

After graduating from university your are planning to get a job as an accountant.Your best friend Jay is planning on opening his own restaurant.He says he has thought a great deal about this and believes he will be very successful and it is a good decision.You explain to him the fact that most new restaurants fail,but it does not factor into Jay's decision.What does this demonstrate?

• A)Base rates
• B)Anchoring effect
• C)Perceptual defence
• D)Sunk costs
• E)Hindsight

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Definitions:

Cross Tabulation

A statistical tool used to analyze the relationship between two or more variables by displaying data in a tabular format.

Marketing Input Report

A document or analysis that includes data, insights, and recommendations to inform and guide marketing strategies and decisions.

Perceptual Map

is a visual representation of how consumers perceive and compare different brands or products based on various attributes.

Lost-Horse Forecast

A humorous term for predictions made after the outcome is already known, often with a pretense of accuracy.