Cognitive Biases Quiz
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Questions and Answers

Which of the following is a characteristic of cognitive biases?

  • They are widely accepted as something that makes us human.
  • They are systematic errors in our thought process.
  • They impact the way we live and work.
  • All of the above. (correct)

    • What does automation bias refer to?

  • The tendency to favor the suggestions of automated systems. (correct)
  • The tendency to resist the suggestions of automated systems.
  • The tendency to ignore the suggestions of automated systems.
  • The tendency to question the suggestions of automated systems.

    • What is the role of AI-infused applications in personalizing content?

  • They have no impact on personalization.
  • They make all of our decisions for us.
  • They improve personalization by using algorithms. (correct)
  • They decrease personalization by using algorithms.

    • What is the potential concern raised by the text about algorithms making decisions?

    <p>They may replace human decision-making entirely.</p> Signup and view all the answers

    Which of the following is a type of business model mentioned in the text?

    <p>Freemium model</p> Signup and view all the answers

    What is the main benefit of adopting a franchise model for a company?

    <p>Access to a well-known brand</p> Signup and view all the answers

    Which company is given as an example of a successful franchise model in the text?

    <p>McDonald's</p> Signup and view all the answers

    What does a franchisor license to a franchisee in a franchise model?

    <p>Intellectual property</p> Signup and view all the answers

    What is the purpose of a business model?

    <p>To streamline business processes</p> Signup and view all the answers

    Study Notes

    Cognitive Biases

    • A characteristic of cognitive biases is the tendency to make irrational decisions based on mental shortcuts or biases.

    Automation Bias

    • Automation bias refers to the tendency to over-rely on automated systems, such as AI, and overlook their potential flaws or biases.

    AI-Infused Applications

    • AI-infused applications play a key role in personalizing content by using machine learning algorithms to tailor the content to individual users.

    Algorithmic Decision-Making

    • A potential concern raised by the text about algorithms making decisions is the possibility of biased or unfair outcomes due to flawed or biased algorithms.

    Business Models

    • One type of business model mentioned in the text is the franchise model.

    Franchise Model Benefits

    • The main benefit of adopting a franchise model for a company is the ability to expand rapidly and efficiently while maintaining brand consistency.

    Franchise Model Examples

    • The company McDonald's is given as an example of a successful franchise model in the text.

    Franchise Model Components

    • In a franchise model, the franchisor licenses the business's intellectual property, branding, and operating system to a franchisee.

    Business Model Purpose

    • The purpose of a business model is to provide a framework for creating, delivering, and capturing value for an organization.

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    Test Your Knowledge: Can You Identify Common Cognitive Biases?

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