Representativeness Heuristic Is Best Explained As

question 28

Multiple Choice

Representativeness heuristic is best explained as:

• A)the process of assuming events are random even when they are not.
• B)the creation of patterns in planned events.
• C)concluding that casual factors are the source of random events.
• D)believing that random events that occur in clusters are truly random.
• E)overconfidence in one's own skills as an investor.

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Definitions:

Social Skills

The abilities required to communicate, interact, and form relationships with others effectively and appropriately.

Intellectual Skills

The cognitive abilities that involve reasoning, problem-solving, and the capacity to understand complex ideas.

Wording Effects

The influence that the choice of words has on the recipient's reaction and understanding.

Welfare

Government programs designed to assist individuals and families in need to ensure a minimum standard of living and financial security.