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Define the Following Cognitive Biases

question 13

Essay

Define the following cognitive biases:
a. Mental accounting.
b. Biased expectation.
c. Reference dependence.
d. Representativeness heuristic.


Definitions:

Female Employees

Female employees are women engaged in work for an organization or business, encompassing a wide range of roles and industries.

Male Employees

Workers identified as male within an organization or workplace.

Significance Level

Significance level is a threshold in hypothesis testing, denoted as alpha, representing the probability of rejecting the null hypothesis when it is true, used to ascertain the strength of the evidence against the null hypothesis.

Mean Response Time

The average time it takes for a system or individual to respond to a given stimulus or request.

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