Marcus Heard on the Radio That There Is a 50

question 437

Multiple Choice

Marcus heard on the radio that there is a 50% chance of rain today. Janis heard that there was 50% of clear skies. Who is more likely to believe that it will not rain today and why?

• A)Marcus because of confirmation bias
• B)Janis because of a belief bias effect
• C)Janis because of a framing effect
• D)Janis because of availability
• E)Both equally because of inductive reasoning

---

Definitions:

Freight Charges

Fees associated with the transportation of goods over distance, typically paid by the shipper or receiver.

Inventory Ownership

Refers to having legal title to goods and merchandise stored within a firm's warehouse or storage facility.

Weighted Average

It's a calculation that takes into account the varying degrees of importance of the numbers in a data set, often used in determining the cost of inventory.

Erratic Changes

Unpredictable fluctuations that do not follow a set pattern or trend, often affecting financial markets or economic conditions.