Studies on the Belief-Bias Effect Conclude That

question 12

Multiple Choice

Studies on the belief-bias effect conclude that

• A) in general, people select answers that are correct from a logical standpoint.
• B) the anchoring and adjustment heuristic often operates inappropriately.
• C) people typically have the biased belief that they ought to affirm the consequent.
• D) people often select answers that are "common sense" rather than logically correct.

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Definitions:

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Breakeven Quantity

The number of units that must be sold at a given price to cover all associated costs, resulting in neither profit nor loss.

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The process of comparing one's business processes and performance metrics to industry bests or best practices from other companies.

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