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Which statement is the best explanation of the fundamental attribution error?
Earthquake Insurance
A type of property insurance policy that covers damage to buildings and personal property caused by seismic activities.
Utility Function
An equation that assigns a level of utility or satisfaction to each bundle of goods, allowing for comparisons of consumer preferences.
Probability
Probability is the measure of the likelihood that an event will occur, quantified as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
Diversified Portfolios
Investment strategies involving a mix of assets (stocks, bonds, real estate, etc.) to reduce risk through diversification.
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