Base-Rate Information Is Information About

question 46

Multiple Choice

Base-rate information is information about

• A) whether the results of an experiment correspond to theoretical predictions.
• B) how rare or common something is.
• C) how similar something is to typical members of a category.
• D) how something varies from one person to another.

---

Definitions:

Forecasted Profit

An estimate or prediction of the financial gain or profit that a business expects to make in a future period.

Buying Decision

The process of making a choice among available alternatives that culminates in the purchase of a product or service.

Mental Step

A stage in cognitive processing or decision-making, often used to describe phases in the buying process of consumers.

Customer Benefit Plan

A strategic outline that identifies and communicates the advantages or value a customer will gain from a product or service.