What other statistically suiatble factors did youthey fail

Assignment Help Other Subject

Reference no: EM13463869

Behavioral heuristics, such as availability, anchoring, vividness, storage, conjunction fallacy, and representativeness, all reflect behavioral traits, which if left unchecked may lead to systematic bias in the choices you make. For example, anchoring and availability can lead to disastrous decisions.

You may know how to recognize these heuristics, but consider how they may have influenced you in the past.

Find at least one example from your own career where you, or another manager, allowed one of these or another pitfall, to sway you from the mean.

Respond to the following:

Why did you/they ignore the base rates?
What other statistically relevant factors did you/they fail to incorporate?
How could you have altered the framing of the situation to make a better decision?

Reference no: EM13463869

Questions Cloud

Describe the difference between white collar crime and : 1. what are sanctions? why are they classified as being positive or negative? give an example of each.2. explain the

Define and describe the relationship between the margin of : question 1 why is cvp analysis generally used as a short run tool? would cvp ever be appropriate as a long run

Explain the security mechanisms available for a database : this assignment requires the use of a relational database management system. strayer university provides each student

After a master budget has been made what is its role in the : question 1 after a master budget has been prepared what is its role in managerial control?question 2 differentiate

What other statistically suiatble factors did youthey fail : behavioral heuristics such as availability anchoring vividness storage conjunction fallacy and representativeness all

Launching a fully functional e-commerce site is a sizable : launching a fully functional e-commerce site is a sizable financial investment in technology marketing advertising

Explain how is the material standard developed explain why : question 1. how is the material standard developed? why are the quantities shown in the bill of materials not always

Analyze three enhancements that have been added to wireless : wireless networking and unified communication networks please respond to the following1.analyze three enhancements that

Explain your experience installing the microsoft office : write a short paragraph in which youquestion 1 describe your experience installing the microsoft office suite software.

User Account

All Pages