Exam 11: Decision Making

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Crowdsourcing refers to ________ aspects of a decision process to a large collection of people.

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Outsourcing aspects of a decision process to a large collection of people is known as

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What business relies heavily on crowdsourcing?

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The fashion business relies heavily on ________ to guide its choice of designs for production.

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If you worked in an organization that had to make an important decision and the information required to make the decision was not available,which of the following would be an appropriate response?

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Crowdsourcing is best employed when the nature of the problem can be clearly stated.

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________ refers to the practice of accepting a solution to a problem that is not optimal but is good enough to meet pre-established criteria.

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________ concerns finding meaningful patterns in large datasets.

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Crowdsourcing can be used to develop alternative solutions to a problem,choose the best ________,or both.

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Google and Facebook are two companies that have profited greatly from applying sophisticated analytics to big data to facilitate decisions about targeted advertising.

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A devil's advocate is

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A meta-analysis is a technique used when evidence from many experts is being used to make a decision.

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Crowdsourcing can be used to develop alternative solutions to a problem,to choose the best solution,or both.

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Crowdsourcing involves outsourcing aspects of a decision process to a large collection of people.

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The decision making strategy of choosing the alternative with the greatest expected value is called ________.

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The perfect prototype for ________ is the Economic Person.

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A person appointed to identify and challenge the weaknesses of a proposed plan or strategy is known as a ________.

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Big data tends to be unstructured and not easily incorporated into standard databases.

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In evaluating alternative solutions,decision makers with bounded rationality

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________ -based management involves making decisions through the conscientious,explicit,and judicious use of the best available evidence from multiple sources.

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