Because of the Representativeness Heuristic,we Are Likely to Erroneously Assume

question 69

Multiple Choice

Because of the representativeness heuristic,we are likely to erroneously assume that which of the following sequences of coin flips is more probable?

• A)heads-heads-heads-heads-heads
• B)heads-tails-heads-tails-tails
• C)heads-heads-tails-tails-tails
• D)tails-tails-tails-tails-heads

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Definitions:

Organizational Profitability

The ability of an organization to generate more revenue than its expenses, leading to financial gain.

Pre-Tax Profits

The amount of earnings of a company before the deduction of taxes, serving as a key indicator of financial health and operational efficiency.

Bonus Pool

A fund allocated for bonuses, typically based on company performance, and distributed to employees based on predetermined criteria.

Fixed Percentage

A specified, constant proportion or rate that does not change with variation in base quantities, often used in financial contexts like interests or commissions.