Interview panel making estimates of the probability

Assignment Help Operation Management

Reference no: EM13899738

Identify the heuristics that decision makers might use in making estimates in the situations listed below. Explain how biases might emanate from the use of these heuristics.

(a) Members of an interview panel making estimates of the probability that a candidate would be a successful appointment.

(b) A marketing manager of a company manufacturing computer peripherals making a forecast of the number of new orders that will be obtained next month.

(d) A manager of an international construction company making an estimate of the risk of civil unrest in a country which was formerly part of the Soviet Union and where the company is considering making investments.

(e) A company doctor estimating the degree of association between the exposure/non-exposure of workers to a chemical pollutant and the incidence of a particular respiratory illness among these workers.

(f) The manager of a manufacturing company estimating the relative probability of (i) a strike at the company’s Pittsburgh plant in the next year and (ii) the company experiencing a long-term loss of market share following a strike over pay at its Pittsburgh plant in the next year.

Reference no: EM13899738

Questions Cloud

What are the sources of risk in group financial statements : What are the definitions of audit, group audit, group audit opinion, consolidated statements, consolidation policy, component auditor and significant component? What are the sources of risk in group financial statements?

Liberty upsets patterns : Robert Nozick argues that “liberty upsets patterns” and that we should not, therefore, choose a “patterned” conception of justice. Instead we should choose his “entitlement theory”

Center of gravity location for the proposed new facility : The main post office in Tampa, Florida, is due to be replaced with a much larger, more modern facility that can handle the tremendous flow of mail that has followed the city’s growth since 1970. calculate the center of gravity location for the propos..

Pursue both low-cost strategy and differentiation strategy : You are part of a management team, working for a major national clothing chain. You compete directly with Macy’s, Dillard’s, and Nordstrom’s. Recently, your organization has been experiencing increasing competition from two sources. Differentiator: S..

Interview panel making estimates of the probability : Identify the heuristics that decision makers might use in making estimates in the situations listed below. Explain how biases might emanate from the use of these heuristics. Members of an interview panel making estimates of the probability that a can..

Principles of justice behind veil of ignorance : Why does Rawls think that we should imagine that people are choosing principles of justice behind a ‘veil of ignorance’? Do you think he is right to argue that a decision made ‘behind the veil’ is more fair than one made with full knowledge?

Health system is shifting focus to wellness and prevention : The US Health System is shifting its focus to wellness and prevention. Give an example of the three forms of prevention. How should emphasis on prevention (all 3 types) alter the delivery of health services in a particular community especially in lig..

How might one argue that the presence of market defects : Sen, Freeman, and Heath all argued that free markets do not always produce results that are optimal. (See also my handout on ethics and markets.) How might one argue that the presence of market defects (like ‘externalities’ and ‘informational asymmet..

Course on materials purchasing accounting : Course on materials purchasing accounting: Recognizing that there may be many specific exceptions, if you were to state a general rule, under what condition is it usually most advantageous to use rail freight, and under what conditions is it most adv..

User Account

All Pages