QMB 3602 Exam 1
In which of the following does a decision maker give unbalanced weight to the first information they have received?
Anchoring trap
Who is an internal stakeholder?
Employee
Who is an external stakeholder?
Lenders
What is the ability to utilize many minds to develop a multitude of ideas, leading to a high quality solution?
Synergy
Which of the following best describes group decision making?
A group of individuals are selected to tackle a problem together on order to achieve a solution.
What is the correct definition of a stakeholder?
An individual or group that has active interest in a business or is affected bu the activities of the business
The time in minutes to travel from City A to City B is what type of variable?
Continuous numerical
A business engages in market research to improve their product, which stakeholder is this mainly beneficial for?
Customers
If the business decides to shut down due to finance, which stakeholders are mainly impacted?
Customers and managers
What objectives to different stakeholders have?
Different objectives
A business is running at a decline and they decide to decrease wages, which stakeholder is mostly impacting?
Employees
What is a good strategy for stakeholders who have high influence and interest in a project?
Engage and consult regularly
A business has decided to maker their products more environmentally friendly, which two stakeholders will this decision most likely appeal to?
Environment and social
Generally, all stakeholders agree that there is a problem and on what the problem is before beginning the DMAIC process.
False
In XML, tags are not case sensitive and are interchangeable. For example, <City> and <city> represent the same piece of information.
False
The anchoring trap can happen by seeking out evidence that supports our instinct or point of view while avoiding information that contradicts it.
False
Which of the following variables in numerical?
Height
What's the best explanation of a stakeholder in a business?
Individuals and organizations that are affected by the business and affect the business
Which term is used to describe the act of obtaining permission to survey prospects of customer?
Informed consent
What is the most important characteristic of a variable?
It must be measurable
Decision makers displaying a strong bias toward alternatives that perpetuates ___________.
Loss aversion
Which of the following broad categories is not a type of analytical technique?
Manipulative analytics
Which stakeholder is most interested in profit?
Owners
During the process of clarifying the research question, which ethical issue is of concern?
Participant's right of informed concept
If a researcher avoids using his or her personal bias to select the method for collecting data, this is one step toward achieving which standard of effective research?
Purpose clearly defined
A researcher who obtains written signed consent to using a video in her or his oral report is interested in what ethical issue?
Right to absence of sponsor deception
If a participant chooses not to answer a particular question on a survey, they are executing their __________.
Right to confidentiality
If a research sponsor is worried about competitors discovering the results of the research before the company can implement changes, it is worried about what ethical issue?
Right to quality research
Submitting your questionnaire for Institutional Review Board review is a process for ensuring that questionnaire complies with government guidelines to protect participants from harm. This addresses which ethical right?
Right to quality research
Which is LEAST likely to be a stakeholder in a partnership?
Shareholders
Which stakeholder is the largest source of finance to the company and has differing levels of control in the business?
Shareholders
Of the following numerical values, which is continuous?
Time in minutes
Status quo is staying safe with the way an individual makes decisions, and their decision process stays the same.
True
To avoid the anchoring trap, view problem from different perspectives.
True
When compiling data, it is important to know data comes in all forms, and granularity. This is known as __________.
Variety