Forecasting Errors Are Potentially Important Because

question 31

Multiple Choice

Forecasting errors are potentially important because

• A)research suggests that people underweight recent information.
• B)research suggests that people overweight recent information.
• C)research suggests that people correctly weight recent information.
• D)research suggests that people either underweight recent information or overweight recent information depending on whether the information was good or bad.

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Definitions:

Behavior Modification

The use of empirical and operant conditioning techniques to change or adjust unhealthy or undesirable behaviors.

Criticism

The practice of analyzing, judging, and/or evaluating something, often with the intention of revealing faults or areas of improvement.

Expectancy Theory

A motivational theory suggesting that individuals are motivated to perform if they believe that their efforts will lead to desired performance and reward.

Victor Vroom

A psychologist recognized for formulating the expectancy theory of motivation, which suggests that individual motivation to perform is influenced by expectations of reward and achievable outcomes.