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Suppose a randomly selected patron is a female. What is the probability the patron prefers beer?
Vivid Memory
A particularly clear and detailed memory of an event or moment, often with emotional significance, that remains strong over time.
Ignoring Base Rates
Involves disregarding statistical information in favor of anecdotal evidence when making judgments.
Availability Bias
A cognitive bias that makes people overestimate the importance of information that is available to them, leading to a misrepresentation of reality.
Gambler's Fallacy
The erroneous assumption that an event occurring with greater regularity than usual in a specific timeframe will occur less often in the future, and the opposite.
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