A Popular Disinfectant Claims That It Kills 99% of Germs

question 35

Multiple Choice

A popular disinfectant claims that it kills 99% of germs, not that it only fails to kill 1% of germs. This BEST exemplifies the concept of:

• A) confirmation bias.
• B) the availability heuristic.
• C) convergent thinking.
• D) framing.

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Definitions:

Sealed-Bid Auction

A type of auction where all bidders simultaneously submit sealed bids to the auctioneer, and the highest bidder wins without knowing the bids of the others.

Private Values

A situation in auctions or market transactions where the value of an item is known only to the individual bidder or participant, not to the other bidders or the seller.

Vickrey Auction

An auction model where sealed bids are submitted, and although the item goes to the highest bidder, the price they pay is determined by the second-highest bid.

English Penny Black

The world's first adhesive postage stamp used in a public postal system, issued in Great Britain in 1840.