Examlex
The weight of a product is normally distributed with a mean of four ounces and a variance of .25 "squared ounces." The company wants to classify the unit as a scrap in a maximum of 1 percent of the units if the weight is below a desired value.Determine the desired weight such that no more than 1 percent of the units are below it.
Availability Heuristic
A cognitive shortcut that relies on immediate examples that come to a person’s mind when evaluating a specific topic, concept, method, or decision.
Explicit Bias
Conscious or deliberate prejudice toward particular groups or individuals based on race, gender, age, or other characteristics.
Just-world Phenomenon
A cognitive bias leading individuals to believe that the world is fundamentally fair, thus people get what they deserve.
Scapegoat Theory
A concept in social psychology that suggests individuals or groups are unfairly blamed for problems not of their making.
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