Analytics Discussion Questions

Watch the lectures below (the password is mg440), and answer the following questions in response. (Links to an external site.)Links to an external site. (Links to an external site.)Links to an external site.

  1. What are the two types of decision makers according to Dr. Shiv? Explain in detail the difference between the two. In what situations or under what conditions are the two types successful?
  2. What is the primary criterion that Dr. Shiv is using to determine success in decision making? Is this always the best criterion? Give an example of a type of decision where this criterion is not of central importance.
  3. Shiv talks about Type 1 vs Type II errors. What does he mean by this and how is it relevant to decision making?
  4. Shiv appears to believe that emotional decision making is superior. Why?
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