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- Problem Identification The need for a new information system may be manifest in various symptoms. In the early stages of a problem, these symptoms seem innocuous and go unrecognized. As the underlying source of the problem grows in severity, so do its symptoms, until they are alarmingly apparent. Classify each of the following as a problem or a symptom. If it is a symptom, give two examples of a possible underlying problem. If it is a problem, give two examples of a possible symptom that may be detected. a. declining profits b. defective production process c. low-quality raw materials d. shortfall in cash balance e. declining market share f. shortage of employees in the accounts payable department g. shortage of raw material due to a drought in the Midwest h. inadequately trained workers i. decreasing customer satisfaction3.) Which of the following is considered emotional biases? A. Loss aversion, overconfidence, self-control B. Loss aversion, belief, self-control C. Loss aversion, overconfidence, perseverance 4.) Which of the following is considered cognitive errors? A. belief perseverance biases, information-processing biases B. belief perseverance biases, information-dissemination biases C.belief persistence biases, information-dissemination biasesHow do you respond to this situation?