What Is the Mode of the Numbers 30, 25, 25

question 8

Multiple Choice

What is the mode of the numbers 30, 25, 25, 45, and 70?

• A)25
• B)30
• C)39
• D)195

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Definitions:

Mental Accounting

A concept in behavioral economics that refers to the different values people place on money, based on subjective criteria, affecting economic decision-making.

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses, often leading to statistical errors.

Affect Heuristic

A mental shortcut used in decision making and judgement that involves relying on emotions and feelings.

Regret Aversion

A theory in behavioral economics that describes the emotional reaction people experience after realizing they have made an error in judgment, leading them to avoid making decisions.