Even When People Are Shown Nothing but a Random Mix

question 87

Multiple Choice

Even when people are shown nothing but a random mix of results, they still like to believe one outcome is more likely than the other. This is tendency illustrates a concept known as

• A) the self-fulfilling prophecy.
• B) the representativeness heuristic.
• C) illusory correlation.
• D) social overconfidence.

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Definitions:

Actual Impact

The real effect or consequence that an event, decision, or action has had.

Management Accountants

Professionals who specialize in providing financial data and analysis to managers within organizations, aiding in decision-making processes.

Financial Data

Information relating to the financial operations of a company, including income, expenses, and investment performance.

Alternative Courses of Action

Different strategies or plans that could be pursued to achieve a goal or solve a problem.