Suppose That a Student Named John Is Asked to Judge

question 11

Multiple Choice

Suppose that a student named John is asked to judge how many students are enrolled in his introductory biology class. He replies, "about 100….well, maybe between about 90 and 110." Based on the discussion of confidence intervals, you predict that

• A) John's estimate probably relies too heavily on the ease with which examples come to mind.
• B) John is likely to be heavily influenced by the confirmation bias.
• C) John probably relied too heavily on the initial anchor of 100 students.
• D) John probably would have been wiser to use the representativeness heuristic to estimate the confidence intervals.

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Definitions:

Merchandise Inventory

Goods that a retailer, wholesaler, or distributor holds for sale to customers in the ordinary course of business.

Debit Memorandum

A document issued by a buyer to a seller indicating a debit or adjustment to an account, typically related to goods returned or a pricing dispute.

Sales Returns and Allowances

A reduction in sales revenue due to returns or allowances for unsatisfactory goods, reported as a contra-revenue account.

Debit Memorandum

A document issued to signal a decrease in accounts receivable, often due to a return or an adjustment.