Question

You are taking an OB course that meets Mondays and Wednesdays, and your professor gives unannounced quizzes each week. It’s the Sunday before a class, and you are deciding whether to study for a potential quiz or watch football. Two of your classmates have decided to watch the game rather than study because they don’t think there will be a quiz the next day. The next morning you walk into class and the professor says, "Take out a sheet of paper for the quiz." You turn to your friends and say, "I knew we were going to have a quiz; why did I listen to you? This reflects the anchoring bias.

Answer 1

Correct Answer: True

Step-by-step explanation:

Anchoring bias is the situation whereby an individual depends heavily on a piece of information offered by someone else inorder to take his own personal decision. The outcome of the decision would affect the person positively or negatively leading to bias thought.

Example, being told that a $200 T-shirt is good when you have the hunch that it is fake when compared to similar shirt sold for $600. Buying it later and seeing that it was actually fake would make you to feel bad and biased towards the person that adviced you to buy it.