Examlex
A work sampling method is used to determine the proportion of the time a worker is idle. The following information was gathered on a random basis.
What is the proportion of idle time observed for this worker?
Hindsight Bias
The tendency to overestimate one’s ability to have predicted an event after the outcome is known; the “I knew it all along” phenomenon.
Heuristic
A rule of thumb that suggests a course of action or guides problem solving but does not guarantee an optimal solution.
Cognitive Schema
A mental framework that helps organize and interpret information, based on past experiences and knowledge.
Cognitive Heuristic
Simple, efficient rules which people often use to form judgments and make decisions; they are mental shortcuts that reduce the cognitive load of making a decision.
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