Technician a Says That Most Generic HH-ESTs Are Capable of Proprietary

question 28

Multiple Choice

Technician A says that most generic HH-ESTs are capable of proprietary data programming.Technician B says that a real advantage of generic HH-ESTs is their portability that permits recording snapshot data on road tests.Who is correct?

• A) Technician A only
• B) Technician B only
• C) Both A and B
• D) Neither A nor B

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Definitions:

Time Inconsistency

The tendency of certain conditions or decisions to change over time, especially in the context of economic planning and policy-making.

Prospect Theory

A behavioral economics theory of preferences having three main features: (1) people evaluate options on the basis of whether they generate gains or losses relative to the status quo; (2) gains are subject to diminishing marginal utility, while losses are subject to diminishing marginal disutility; and (3) people are prone to loss aversion.

Behavioral Economists

Economists who study how psychological, social, cognitive, and emotional factors affect economic decisions and market outcomes.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.