If People Do Not Have All Three Types of Information

question 147

Multiple Choice

If people do not have all three types of information necessary (according to the covariation model) , what do people do in order to make attributions?

• A) They ignore the information they already have and rely totally on schemas.
• B) They use the information they have and rely on opinions of others for the rest.
• C) They use the information they have and make inferences about missing information.
• D) They ignore the information they have and rely on judgmental heuristics.

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Definitions:

Possession Utility

The value added by the process of transferring the ownership of a product or service from one party to another, enhancing its appeal to potential buyers.

Ownership Utility

The added value or benefit provided to a product or service by ensuring that the consumer has the legal right or ownership to use or dispose of it as they see fit.

Product Availability

The extent to which products are in stock and can be purchased by consumers at any given time.

Exchange Process

The exchange process refers to the series of actions in which two or more parties give something of value to each other, usually in the context of business or trade.