User Account

All Pages

Why did you or they ignore the base rates

Assignment Help Operation Management
Reference no: EM132081783 , Length: word count : 300

Assignment : Discussion-Behavioral Heuristics

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?

Post your response to the appropriate Discussion Area. Through the end of the module, review and comment on at least two peers' responses.

Write your initial response in 300-500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation.

Reference no: EM132081783

Questions Cloud

What are the most notable changes in development experienced : What student and college-environment characteristics contribute to favorable psychological changes during the college years? Be sure to consider characteristics
Letter advising that the car was no longer for sale : An hour after posting that letter Jack received Ann’s second letter advising that the car was no longer for sale.
How quantitative research tools can be used to aid : Write an essay that describes how quantitative research tools can be used to aid in decision making within your field.
Discuss the aspects of the process group of relevant : Discuss the aspects of the process group of relevant to your project: initiating, planning, executing, monitoring and controlling and closing.
Why did you or they ignore the base rates : Why did you/they ignore the base rates? What other statistically relevant factors did you/they fail to incorporate?
How e-technologies have changed modern social life : How e-technologies have changed modern social life and how suppliers of such technologies have sought to overcome the threats and risks associated
Determining organizational purpose and business strategy : Identify four key stakeholders that Synlait Milk would need to consider in determining their organizational purpose and business strategy.
Compute the dollar sales to earn the target after-tax : The company is subject to a 25% income tax rate. Compute the dollar sales to earn the target after-tax net income
How early habits affect development in middle adulthood : Review how early habits affect development in Middle Adulthood. What does Berk say that would apply here?

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd