Ask Question
BusinessBusiness
17 February, 02:44

A group of executives attended a meeting in which the CFO was the attendee with the most senior ranking. When the meeting began, the CFO offered his views on the matter at hand, and the other meeting attendees expressed agreement with his approach. This scenario could be an example of which type of bias? Anchoring and adjustment biasHindsight biasGroup think biasConfirmation biasAvailability bias

+3
Answers (1)
  1. 17 February, 03:10
    0
    Group think bias

    Explanation:

    Groupthink bias occurs when people believe in something because other people believe in it. It is when everyone comes to the same conclusion concerning a matter.

    In the meeting everyone agreed with the CEO, this is an instance of groupthink.

    Anchoring bias is when a person's decision is overly anchored on an initial information given when making a decision.

    Confirmation bias is when a person arrives at a conclusion in line with their beliefs.

    Availability bias is basing decisions on past instances that comes to mind when making the decision.

    Hindsight bias occurs when people over estimate their abilities to predict how an event would have turned out in hindsight.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A group of executives attended a meeting in which the CFO was the attendee with the most senior ranking. When the meeting began, the CFO ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The functions of money are Select one: a. a conductor of economic activity, a medium of exchange, and a store of value. b. a medium of exchange, a store of value, and a factor of production. c.
Answers (1)
List two reasons why it is a good idea to analyze all the cost (s) of using a credit card before making a purchase.
Answers (1)
Happy Foods and General Grains both produce similar puffed rice breakfast cereals. For both companies, the cost of producing a box of cereal is 45 cents, and it is not possible for either company to lower their production costs any further.
Answers (1)
MC Qu. 90 Locus Company has total fixed costs ... Locus Company has total fixed costs of $117,000. Its product sells for $51 per unit and variable costs amount to $26 per unit.
Answers (1)
A student heats a liquid on a burner. What happens to the portion of liquid that first begins to warm? Check all that apply. It becomes more dense. It becomes less dense. It releases energy to the environment. It absorbs energy from the environment.
Answers (2)
New Questions in Business
Sam was injured in an accident, and the insurance company has offered him the choice of $25,000 per year for 15 years, with the first payment being made today, or a lump sum. If a fair return is 7.
Answers (1)
Friendly's Quick Loans, Inc., offers you "eight for ten or I knock on your door." This means you get $8 today and repay $10 when you get your paycheck in one week (or else).
Answers (1)
Shoeleather costs arise when higher inflation rates induce people to:a. spend more time looking for bargains. b. spend less time looking for bargains. c. hold more money. d. hold less money.
Answers (1)
Lewis Inc. had the following information taken from various accounts for 2015: Sales Discounts $41,000 Unearned Revenue $32,000 Total Sales $459,000 Purchase Discounts $15,000 Sales Allowances $35,000 Accounts Receivable $205,000 What was Lewis Inc.
Answers (1)
True or False: The basic economic theory of supply and demand suggests that when price drops, consumers will buy more and thus generate stronger demand.
Answers (1)
Home » Business » A group of executives attended a meeting in which the CFO was the attendee with the most senior ranking. When the meeting began, the CFO offered his views on the matter at hand, and the other meeting attendees expressed agreement with his approach.
Sign Up Forgot Password?