True or False: the Probability That a Standard Normal Variable

question 36

True/False

True or False: The probability that a standard normal variable, Z, is below 1.96 is 0.4750.

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Definitions:

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.

Framing Effect

The influence on decision making caused by the way information is presented, rather than the actual information itself.

Base-Rate Error

A cognitive bias where people misjudge the likelihood of an event by ignoring general prevalence.

Availability Heuristic

An intuitive thinking process that leverages readily available examples to evaluate a specific topic, concept, approach, or decision.