If You Knew That Only One Per Cent of Inventors

question 42

Multiple Choice

If you knew that only one per cent of inventors actually have a handsome income you would have an example of:

• A) representativeness.
• B) the illusory correlation.
• C) regression to the mean.
• D) base-rate information.

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Definitions:

Premium

An additional amount paid for a service or product, or the level of coverage or benefits in an insurance policy.

Insured

A person or entity covered under an insurance policy to protect against certain risks or losses.

Insurer

A company or entity that provides insurance coverage to individuals, businesses, or other entities against financial loss or damage.

Term Insurance

Insurance that is issued for a particular period, usually five or ten years.