Asked by Brennan Stevens on Apr 28, 2024

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Which of the following is probably an expression of the influence of the Hindsight Bias?

A) "There are a couple of city cops across the street on foot patrol. Just a couple more bullies in blue uniforms looking to roust some poor homeless dude or bust a couple of brown or black kids with a trumped up drug possession charge."
B) "It's one thing for us to serve and protect. That's our oath as police officers. But, hey, when you're out on the streets you got to protect yourself. I mean, it's a combat zone out there. We got stick together, cover each other's six. You know what I mean."
C) "When I was just going off to college I used to talk with my Dad about politics. He said the best approach was always to be conservative. So that's what I am."
D) "There was a time when I thought that the reason you didn't do your fair share of the housework was because you did not realize that I was your partner, not your mother. But now that you occasionally do the shopping, the laundry, and help with the dinner dishes I realize that you must not think I'm your mother but your maid instead."
E) "We did everything right. Everything! It was a useful product. Well designed and well built. We used an outstanding marketing approach. It is just that nobody wanted to buy it. That's not our fault. Nobody can predict what the public will like. The market just was not ready for what we were offering. Nothing we could do about that."

Hindsight Bias

The tendency to believe, after an event has occurred, that one would have predicted or expected the outcome, often referred to as the "I-knew-it-all-along" effect.

Useful Product

An item or service that fulfills a need, serves a purpose, or provides value to its users.

Marketing Approach

Strategies and tactics used by companies to promote, sell, and distribute a product or service to consumers.

  • Identify how cognitive biases, such as hindsight bias and the incorrect use of heuristics, impact judgment and decision-making processes.
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Mckenzie TaylorApr 30, 2024
Final Answer :
E
Explanation :
The statement shows the influence of hindsight bias as it suggests that the failure of the product was due to external factors and not the fault of the company, when in reality, there could have been factors within the control of the company that led to the failure.