Sometimes We Are Prone to Judge an Individual Based on Our

question 217

Short Answer

Sometimes we are prone to judge an individual based on our perception of his or her match to the category of people he or she most closely resembles; that is, we fall prey to the __________ heuristic.

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Definitions:

Process Map

A visual representation of the steps involved in a process, showing how tasks are connected and flow from one to the next.

Target Costing

A pricing strategy in which the selling price of a product is determined first, and then the manufacturing cost is managed to meet the desired profit margin.

Value Engineering

A systematic method to improve the "value" of goods or products and services by using an examination of function.

Target Price

The price at which an investor aims to buy or sell a stock based on future price predictions.