19. If an individual knows the price of three similar cars at different dealerships, he is operating under which of the following decision-making conditions?
(A) risk
(B) certainty
(C) speculation
(D) suppositio

15. "Smoking and the consumption of alcohol are strictly prohibited inside the work premises." This is most likely an example of a(n) ________. (A) objective (B) procedure (C) rule (D) axiom

16. Which of the following is an example of a policy? (A) Smoking and the consumption of alcohol are strictly prohibited inside the work premises. (B) Employees working with power tools must wear safety glasses at all times. (C) We are an equal opportunity employer with a diverse workforce. We do not discriminate against employees and applicants on the basis of sex, race, color, religion, national origin, age, disability, marital status, sexual orientation or veteran status. (D) Before going on a leave of absence, fill up the application form available on the company's online leave management system. All applications will be approved/rejected within two days by the employee's immediate supervisor.

17. Nonprogrammed decisions ________. (A) are associated with clear and specific goals (B) are unique and nonrecurring (C) involve standardized solutions (D) are usually made by lower-level managers

18. Lower-level managers typically confront ________. (A) unstructured problems (B) programmed decisions (C) new and unusual problems (D) nonprogrammed decisions

20. Which of the following best describes the psychological orientation of an individual making a "maximax" choice? (A) cynic (B) optimist (C) defeatist (D) pessimist

21. What is the psychological orientation of a decision maker who makes a "maximin" choice? (A) optimist (B) pessimist (C) idealist (D) realist

22. The ________ thinking style is characterized by a person's preference for using external data and facts and processing this information through rational, logical thinking to guide decisions and actions. (A) organic (B) behavioral (C) linear (D) normative

23. Rules of thumb that managers use to simplify decision making are known as ________. (A) folksonomies (B) heuristics (C) sophisms (D) algorithms

24. The ________ describes how decision makers fixate on initial information as a starting point and then, once set, fail to adequately adjust for subsequent information. (A) selective perception effect (B) anchoring effect (C) confirmation bias (D) framing bias

25. When decision makers seek out information that reaffirms their past choices and discount information that contradicts past judgments, they are exhibiting the ________. (A) availability bias (B) representation bias (C) confirmation bias (D) framing bias