4. Please choose four of the scenarios below and identify and explain the behavioral characteristic it exemplifies. You are the manager of a retail store. You believe the economy is in a recession and that sales for the month will be unusually slow. Since you have complete discretion over the pricing at your location, you decide to have a store wide sale and offer 10 percent of all merchandise for a three- day period. You don't expect your superior to criticize this decision as you believe they, along with the majority of the other store managers feel the same way about the economy sy You are a hard-charging manager who doesn't really like to site des for too long. You prefer to gather information quickly, make a decision and move on to the next item on your agenda Roger's Meat Market is a chain of retail stores th i s is also fresh-cut meats. The store have been very profitable in northern cities. However, when two stores were opened in the south both lost money and had to be closed. Roes, the owner, has now concluded that no souther-based store should be opened as it would not be profitable Kate is attempting to sell her house for $260.000. Fred lives across the street in an identical house. Fred recently stated to his wife that Kate's house is probably worth only $250,000 but that once she sells her house, he would like to put their house on the market at $285.000 and then move into a condominium Ramon opened a combination laundry and dry cleaning establishment three years ago and it is quite successful. He has considered expanding this business by opening another location but keeps putting off that decision for fear that the second location will not be a success. Steve purchased a stock last year for $34 a share. The stock increased in value to $36 a share before declining to its current value of $30. Steve has decided to sell the stock, but only if he can receive $34 a share or better. Recently, a neighbor you have known for years won a lottery and received a $250,000 prize. This neighbor decided to invest all of his winnings in a new business venture that he knew only had a 5 percent chance of success. Previous to this, the neighbor had always been ultra conservative with his money and had refused to invest in this business venture as recently as last weck Consumer Marketing just conducted a two-phase survey. In the first phase, the survey questions were worded such that the answers tended to sound positive. In the second phase, the survey questions were reworded so the answers tended to convey a negative feeling. Both sets of survey questions should have resulted in similar results as the information solicited was essentially identical. However, the survey results varied significantly 4. Please choose four of the scenarios below and identify and explain the behavioral characteristic it exemplifies. You are the manager of a retail store. You believe the economy is in a recession and that sales for the month will be unusually slow. Since you have complete discretion over the pricing at your location, you decide to have a store wide sale and offer 10 percent of all merchandise for a three- day period. You don't expect your superior to criticize this decision as you believe they, along with the majority of the other store managers feel the same way about the economy sy You are a hard-charging manager who doesn't really like to site des for too long. You prefer to gather information quickly, make a decision and move on to the next item on your agenda Roger's Meat Market is a chain of retail stores th i s is also fresh-cut meats. The store have been very profitable in northern cities. However, when two stores were opened in the south both lost money and had to be closed. Roes, the owner, has now concluded that no souther-based store should be opened as it would not be profitable Kate is attempting to sell her house for $260.000. Fred lives across the street in an identical house. Fred recently stated to his wife that Kate's house is probably worth only $250,000 but that once she sells her house, he would like to put their house on the market at $285.000 and then move into a condominium Ramon opened a combination laundry and dry cleaning establishment three years ago and it is quite successful. He has considered expanding this business by opening another location but keeps putting off that decision for fear that the second location will not be a success. Steve purchased a stock last year for $34 a share. The stock increased in value to $36 a share before declining to its current value of $30. Steve has decided to sell the stock, but only if he can receive $34 a share or better. Recently, a neighbor you have known for years won a lottery and received a $250,000 prize. This neighbor decided to invest all of his winnings in a new business venture that he knew only had a 5 percent chance of success. Previous to this, the neighbor had always been ultra conservative with his money and had refused to invest in this business venture as recently as last weck Consumer Marketing just conducted a two-phase survey. In the first phase, the survey questions were worded such that the answers tended to sound positive. In the second phase, the survey questions were reworded so the answers tended to convey a negative feeling. Both sets of survey questions should have resulted in similar results as the information solicited was essentially identical. However, the survey results varied significantly