Which of the Following Actions May Be Explained by the Law

question 159

Multiple Choice

Which of the following actions may be explained by the law of small numbers?

• A) People buy lottery tickets.
• B) People buy air travel insurance.
• C) People purchase extended or long-term warranties or maintenance contracts for new automobiles and appliances.
• D) all of the above

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Definitions:

Multi-Attribute Attitude Model

A framework used in consumer behavior that examines how consumers evaluate a product or service based on perceived attributes and the importance of these attributes.

Speaker Attributes

Characteristics or qualities of a speaker that influence how the message is received, such as credibility, attractiveness, and authority.

Balance Theory

A psychological theory suggesting how people develop their relationships with others and objects in their environment based on cognitive consistency among triads of elements.

Unit Relation

The interconnectedness or interaction between different components or elements within a system.