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Business 316: Strategic Decision Making  /  Business Courses

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Business 316: Strategic Decision Making Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. Which of the following can BEST be defined as the average of the squared differences?

Question 2 2. Mika is testing the relevance of her hypothesis that inflation is the main cause of decreasing investor confidence. This is her null hypothesis. The P-value turns out to be 0.071, while the significance level is 0.05. What does this mean?

Question 3 3. How are leading questions in a survey similar to the social desirability bias?

Question 4 4. Cindy is the CEO of a large company thinking of opening a second store in Chicago. Her first store in Chicago makes $500,000 per year and there is a 50% chance that her second store may have the same amount of revenue. What is the expected value of the second store?

Question 5 5. Why is it a good idea to start a new business line during the expansion phase of the cycle?

Question 6 6. Gibs is an analyst in a large marketing company. He is trying to determine how they could market their new line of products and what options they have available. Which concept is MOST reflected in this scenario?

Question 7 7. Which of the following normative models of decision-making empowers employees the most?

Question 8 8. Which of the following is conducted during the identification phase of the incremental model?

Question 9 9. What is the second step of the administrative model of decision-making?

Question 10 10. Silvia is the CEO of a large financial company. She has ordered a large official investigation of her company's decision-making process to ensure that everyone is making ethical decisions. What is such an investigation called?

Question 11 11. Trevor is a financial broker in New York. He has gotten used to working in a certain way and receiving exact information. He has now moved to a country where a lot of the communication is difficult to understand and many things are left unsaid. Most of his coworkers do not provide specifics in a conversation. What is this an example of?

Question 12 12. Which of the following is a strategy where decisions are made after an event happens?

Question 13 13. Why do many consider Oprah Winfrey to be an example of a resource allocator manager?

Question 14 14. Which of the following is BEST defined as having a plan that provides pre-made decisions for a variety of issues?

Question 15 15. Which of the following is used to discover any gaps in the organization's performance towards its goals?

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Business 316: Strategic Decision Making Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

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