When managers predict that sales for next year will be the same as last year,despite a weakening economy,they are
A)using framing.
B)using regression to the mean.
C)using confirmation bias.
D)ignoring the base rate.
E)escalating commitment.

Question

Quizplus · Accepted Answer

Confirmation bias is the tendency to seek out information that confirms our existing beliefs. In this case, the managers are predicting that sales will be the same as last year, despite a weakening economy. This is because they are only considering information that supports their existing belief that sales will not decline.

When Managers Predict That Sales for Next Year Will Be