Barry Has Prepared the Following 2014 Income Tax Estimate for His

question 57

Essay

Barry has prepared the following 2014 income tax estimate for his sister, Sylvia. Sylvia is single, age 32, and has no children. Sylvia is an employee of General Motors and rents an apartment. Her only investment is a savings bank account. Identify the errors, if any, in Barry's income tax estimate. Additional calculations are not required.

Understand the concept of functional fixedness and its impact on problem-solving.

Recognize and describe the availability heuristic and its effect on decision-making.

Identify and explain the use of various decision-making models, including single-feature, additive, elimination by aspects, and availability heuristics.

Distinguish between mental set and functional fixedness, and understand how each affects problem-solving.

---

Definitions:

Fragmentation

A method of asexual reproduction in some bacteria, archaea, animals, or plants; a cell or an organism separates into several pieces and each piece develops into a new organism.

Sporogenesis

The process of spore formation, particularly in plants, fungi, and protozoa.

Fission

The division of a single entity into two or more parts and the regeneration of those parts into separate entities resembling the original.

Budding

Asexual reproduction in which a small part of the parent’s body separates from the rest and develops into a new individual; characteristic of yeasts and certain other organisms.