Training in Statistics

question 30

Multiple Choice

Training in statistics

• A) can help us make use of quick, efficient heuristics rather than slower, more effortful thinking.
• B) improves participants' abilities to make judgments so that judgment errors will be less likely.
• C) improves participants' abilities to make judgments but only when they are trained in an abstract way.
• D) provides many benefits but seems not to teach students how to make more accurate judgments.

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Definitions:

Exchange Rate

The value of one currency expressed in terms of another currency, used when converting from one currency to another.

Rupees

The official currency of India, also used as currency in other countries such as Pakistan, Nepal, and Sri Lanka.

United States Imports

Goods and services brought into the United States from other countries for sale or use.

Comparative Advantage

The ability of a country or individual to produce a particular good or service at a lower opportunity cost than its trade partners.