You Are Obsessed with Your Favorite Football Team

question 16

Multiple Choice

You are obsessed with your favorite football team. However, because they have won seven games in a row, you think it too improbable that they will win the eighth game, and so you bet against them. This illustrates

• A)hasty generalization.
• B)the availability bias.
• C)adjustment.
• D)anchoring.
• E)the gamblers fallacy.

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Definitions:

Fisheries

Industry or activity concerned with catching, processing, or selling fish, shellfish, and sometimes whales.

State Governments

The government entities that have jurisdiction over particular states or provinces within a federal system, responsible for local legislation and governance.

Organizational Buyers

Those manufacturers, wholesalers, retailers, service companies, nonprofit organizations, and government agencies that buy products and services for their own use or for resale.

Reprocessing

The act of processing used or discarded materials to make them suitable for reuse, often involving cleaning, repairing, or transforming them into new products.