MN155 EXAM QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
bandwagon effect
An example is when people start to use a certain product or service simply because it is
popular, without researching or considering other options.
anchoring bias
a tendency to fixate on initial information, from which one then fails to adequately adjust
for subsequent information
self-serving bias
the tendency for people to take personal credit for success but blame failure on external
factors
halo effect
a tendency to believe that people have inherently good or bad natures rather than
looking at individual characteristics
Similarity attraction bias
People tend to be attracted to and to perceive more favorably those who are similar to
themselves
contrast effect
evaluation of a person's characteristics that is affected by comparisons with other
people recently encountered who rank higher or lower on the same characteristics
availability bias
, items that are more readily available in memory are judged as having occurred more
frequently example place crash
Dunning-Kruger Effect
The tendency for unskilled individuals to overestimate their own ability and the tendency
for experts to underestimate their own ability.
overconfidence bias
holding unrealistically positive views of oneself and one's performance
fundamental attribution error
the tendency for observers, when analyzing another's behavior, to underestimate the
impact of the situation and to overestimate the impact of personal disposition
5 stage model of perception
The stages are stimulation, organization, interpretation-evaluation, memory, and recall.
The brain receives sensory information, organizes it into a meaningful pattern, assigns
meaning to the pattern, stores it in long-term memory, and retrieves it when needed.
bottom up
analysis that begins with the sensory receptors and works up to the brain's integration of
sensory information
top-down
refers to processing in which our experience and expectations influence our perceptions
hindsight bias
the tendency to believe, after learning an outcome, that one would have foreseen it
randomness error
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
bandwagon effect
An example is when people start to use a certain product or service simply because it is
popular, without researching or considering other options.
anchoring bias
a tendency to fixate on initial information, from which one then fails to adequately adjust
for subsequent information
self-serving bias
the tendency for people to take personal credit for success but blame failure on external
factors
halo effect
a tendency to believe that people have inherently good or bad natures rather than
looking at individual characteristics
Similarity attraction bias
People tend to be attracted to and to perceive more favorably those who are similar to
themselves
contrast effect
evaluation of a person's characteristics that is affected by comparisons with other
people recently encountered who rank higher or lower on the same characteristics
availability bias
, items that are more readily available in memory are judged as having occurred more
frequently example place crash
Dunning-Kruger Effect
The tendency for unskilled individuals to overestimate their own ability and the tendency
for experts to underestimate their own ability.
overconfidence bias
holding unrealistically positive views of oneself and one's performance
fundamental attribution error
the tendency for observers, when analyzing another's behavior, to underestimate the
impact of the situation and to overestimate the impact of personal disposition
5 stage model of perception
The stages are stimulation, organization, interpretation-evaluation, memory, and recall.
The brain receives sensory information, organizes it into a meaningful pattern, assigns
meaning to the pattern, stores it in long-term memory, and retrieves it when needed.
bottom up
analysis that begins with the sensory receptors and works up to the brain's integration of
sensory information
top-down
refers to processing in which our experience and expectations influence our perceptions
hindsight bias
the tendency to believe, after learning an outcome, that one would have foreseen it
randomness error
