Introduction To Managerial Accounting
8th Edition
ISBN: 9781259917066
Author: BREWER, Peter C., Garrison, Ray H., Noreen, Eric W.
Publisher: Mcgraw-hill Education,
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Question
Chapter P, Problem 8E
To determine
To identify: The way the cognitive bias adversely impact the mangers planning, controlling and decision making.
To determine
To Identify: The steps to be taken by the managers to reduce the possibility of adverse influence of cognitive bias in the actions of mangers.
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In the 1970s, one million college-bound students were surveyed and asked to compare themselves to their peers. Some of the key findings of the survey were as follows:
a. 70% of the students rated themselves as above average in leadership ability, while only 2% rated themselves as below average in this regard.
b. With respect to athletic skills, 60% of the students rated their skills as above the median and only 6% of students rated themselves as below the median.
c. 60% of the students rated themselves in the top 10% in terms of their ability to get along with others, while 25% of the students felt that they were in the top 1% in terms of this interpersonal skill.
Required:
What type of cognitive bias reveals itself in the data mentioned above? How might this cognitive bias adversely influence a manager’s planning, controlling, and decision-making activities? What steps could managers take to reduce the possibility that this cognitive bias would adversely influence their actions?
A test was given to a group of students. The grades and gender are summarized below
A
B
C
Total
Male
10
6
18
34
Female
3
20
8
31
Total
13
26
26
65
If one student is chosen at random from those who took the test,Find the probability that the student got a 'A' GIVEN they are male.
The accompanying data provides the results of a survey of 27 employees in a tax division of a Fortune 100 company.
a. Test the null hypothesis that the average number of years of service is the same for males and females. Assume that the population variances are unequal.
b. Test the null hypothesis that the average years of undergraduate study is the same for males and females. Assume that the population variances are unequal
Click the icon to view the survey data.
a. Is there sufficient evidence at the 0.01 level of significance that the average number of years of service is the same for males and females?
Determine the null hypothesis, H. and the alternative hypothesis. H Let females be population 1 and males be population 2
Ho H1 H2
=
0
HH-H
#
0
(Type integers or decimals. Do not round.)
Compute the test statistic
(Round to two decimal places as needed.)
Survey data
Gender
Years of Service
Years Undergraduate
Study
Gender
Years of Service
Years Undergraduate
Study
Female
18
4
Male
6…
Chapter P Solutions
Introduction To Managerial Accounting
Ch. P - How does managerial accounting differ from...Ch. P - Pick any major television network describe some...Ch. P - It you had to decide whether to continue making a...Ch. P - Why do companies prepare budgets?Ch. P - Prob. 5QCh. P - Prob. 6QCh. P - Prob. 7QCh. P - Why do management accountants need to understand...Ch. P - Prob. 9QCh. P - Pick three industries and describe the risks faced...
Ch. P - Pick any large company and explain there ways that...Ch. P - Locate the website of any company that publishes a...Ch. P - Why do companies that implement Lean Production...Ch. P - Why are leadership skills important to managers?Ch. P - Prob. 15QCh. P - If you were a restaurant owner, what internal...Ch. P - Prob. 17QCh. P - Prob. 18QCh. P - Why do companies take a physical count of their...Ch. P - Why do companies use sequential prenumbering for...Ch. P - Planning and Control Many companies use budgets...Ch. P - Controlling Assume that you work for an airline...Ch. P - Prob. 3ECh. P - Ethics and the Manager Richmond. Inc., operates a...Ch. P - Prob. 5ECh. P - Prob. 6ECh. P - Ethics in Business Consumers and attorney generals...Ch. P - Prob. 8ECh. P - Prob. 9ECh. P - Prob. 10ECh. P - Prob. 11ECh. P - Cognitive Bias and Decision Making During World...Ch. P - Ethics and Decision Making Assume that you just...
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