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Suppose that you are working as an industrial/organizational psychologist for a company. You've determined that the employees tend to be too confident about sales decisions that later turn out to be unwise. Remembering what you learned in your cognitive psychology course, your wisest decision would be to
Mean
The average of a set of numerical values, calculated by summing them together and then dividing by the number of observations.
Standard Normal
A normal distribution with a mean of 0 and a standard deviation of 1.
Random Variable
A random variable represents numerical outcomes of random phenomena or experiments, varying in value based on the outcomes of the process.
Standard Normal Distribution
A probability distribution that has a mean of 0 and a standard deviation of 1, representing a bell-shaped curve.
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