Question 1:Dramatic events affect our decision making more than routine analyses, according to the bias called:

-recallability

-anchoring

-confirming evidence

-status quo

Question 2: "I need advice about our new product pricing but will talk to my friends in my department and not accounting. They always make things overly complicated and ask too many questions." This statement illustrates which bias?

-confirming evidence

-recallability

-anchoring

-status quo

Question 3: "Kevin fought for this product to be produced, marketed, and sold across the country. It's failing and our customers are going to other companies instead. He spent so much time and money on it that he just can't let go." This illustrates what bias?

-Sunk cost

-Status quo

-Anchoring

-Recallability

"I know they just want us to make enough sockets for 40,000 products, let's make enough for 75,000. I don't want to run out just in case." This costly bias is called:

-Prudence

-Sunk cost

-Recallability

-Confirming evidence

"In business, sins of commission are worse than sins of omission." What does this mean?

Group of answer choices

-Managers often will not make a decision rather than fail when making one.

-Managers will usually make a decision rather than do nothing.

-Managers ask others to join them in decisions so there is a group responsible.

-Managers are overconfident in making decisions.