Q.Are judgment and decision-making interrelated processes? Explain.

In making a judgment, a person draws conclusions, forms opinions, or evaluates people, objects or events, based on existing knowledge and the evidence available. Decision-making, by contrast, is the process of choosing among several already-known alternatives, based on weighing the cost and benefit associated with each one. The chapter explicitly marks out what makes decision-making different from problem solving in general: in decision-making, the possible solutions or choices are already known in advance, and the task is simply to select and commit to one of them, rather than to work out a solution from first principles - the chapter's own example is choosing between practising for a state-level badminton tournament and preparing for an approaching final exam, a decision made by weighing all possible outcomes. …