Comprehension

Von Nuemann and Morgenstern assume a decision framework in which all options are thoroughly considered, each option being independent of the others, with a numerical value derived for the utility of each possible outcome (these outcomes reflecting, in turn, all possible combinations of choices). The decision is then made to maximize the expected utility.
... 1 ... such a model reflects major simplifications of the way divisions are made in the real world. Humans are not able to process information as quickly and effectively as the model assumes; they tend not to think ... 2 ... as easily as the model calls for; they often deal with a particular option without really assessing its ... 3 ... and when they do assess alternatives, they may be extremely nebulous about their criteria of evaluation

Question: 1

Select the most appropriate word to fill in the blank: "... 1 ... such a model reflects major simplifications of the way divisions are made in the real world."

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Choose an adverb that matches the tone of the passage — here, a matter-of-fact explanation requires "Obviously."
Updated On: Aug 4, 2025
  • Regrettably
  • Firstly
  • Obviously
  • Apparently
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The Correct Option is C

Solution and Explanation

The statement explains that the model simplifies real-world decisions; "Obviously" fits naturally to express that this point is clear and self-evident.
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Question: 2

"Humans are not able to process information as quickly and effectively as the model assumes; they tend not to think ... 2 ... as easily as the model calls for."

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Look for words that describe mental processes; here, the focus is on logical breakdown and evaluation.
Updated On: Aug 4, 2025
  • quantitatively
  • systematically
  • scientifically
  • analytically
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The Correct Option is D

Solution and Explanation

The sentence contrasts real human thinking with the structured thinking required by the model; "analytically" best expresses the systematic evaluation lacking in real behavior.
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Question: 3

"They often deal with a particular option without really assessing its ... 3 ..."

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Consider the context — the word should convey "possible consequences" rather than simply "other options."
Updated On: Aug 4, 2025
  • implications
  • disadvantages
  • utility
  • alternatives
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The Correct Option is A

Solution and Explanation

The sentence discusses not considering consequences; "implications" refers to the potential effects or results of a decision.
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