Question
A manager who uses anchoring bias to make decisions is
guilty of doing which of the following?Solution
Anchoring is a cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered (the "anchor'') when making decisions. During decision making, anchoring occurs when individuals use an initial piece of information to make subsequent judgments. This bias is the tendency to jump to conclusions.
The ratio of incomes of A and B is 5 : 7. Each of them saves Rs 600 per month. The ratio of their expenditures is 3 : 5. What is B's monthly income?
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If A:B = 4:5 and C:B = 3:4, then determine the value of (A:B:C) .
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- A total amount of βΉ24,750 is divided among βMβ, βNβ, βOβ, and βPβ in the ratio of 4:7:5:6. What is the share of βNβ?
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