1. Discuss your thoughts and feelings about ethics and fairness in managerial decision-making. Do you believe we are becoming a less ethical nation? Why or why not.
2. Take a moment and look at or think about newspapers, magazines, or Internet articles you have recently read. Look for examples of how numbers are used in advertisements. For example, it is not unusual to see something like “more than 80% of customers prefer this brand” or “four out of five dentists recommend Brand T gum for their patients who chew gum.” Why do advertisers use numbers like these? What information are they trying to convey? Think about how they may have arrived at these probabilities. Do you think that the information they are giving is accurate? Why or why not?
Also, consider the fact that in everyday life, we often try to guess how likely or probable an event is and base decisions on these guesses. Give an example of when you may use probability to make a decision in your everyday life or career.
This question has several parts. None of the questions within this post require a lengthy answer, but please be sure to answer all parts thoroughly.