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1. In order to avoid falling prey to ease of recall bias, a manager must discount the number of successful and unsuccessful actions taken by employees situated closer to the manager, relative to those of employees who are farther away.

____True

____False

2. The fact that heavy advertising of a companys or a products name on billboards and in the media makes that name stick in peoples memory as bearing high quality is an example of what bias?

	a.	Retrievability.
	b.	Ease of recall.
	c.	The conjunction fallacy.
	d.	Insensitivity to base rates.

3.

Which of the following can serve as a cognitive explanation for misconceptions of chance?

	a.	People expect probabilities to even out.
	b.	People remember unusual sequences better than ones that appear more random.
	c.	People judge probabilities of future events as contingent on past events.
	d.	All of the statements are correct.

4.When do people use base-rate data correctly?

	a.	When there is no other information available.
	b.	When this information confirms their initial hypotheses.
	c.	When they are instructed to do so.
	d.	All of the statements are correct.

5.When negotiating for salary with a future employer, it is wise to make an initial offer that is ______, because of the anchoring bias

	a.	below the average
	b.	high
	c.	low
	d.	about the average

6.The anchoring bias affects our value estimates, but not our ability to retrieve information from memory.

____True

____ False

7.Which bias occurs only after the true outcome of an event is known?

	a.	None of them.
	b.	Ease of recall.
	c.	The hindsight bias.
	d.	Retrievability.

8. Experience helps countervail the anchoring bias, such that anchoring effects are rarely observable in expert judgments.

____ True

____ False

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