A College Student Who Thinks He Has a High Probability

question 76

Multiple Choice

A college student who thinks he has a high probability of gaining acceptance into a highly selective graduate program that historically accepts only 20 percent of those who apply is probably making the intuitive error in judgment specifically called

• A) the framing effect.
• B) the representativeness heuristic.
• C) ignoring the base rate.
• D) convergent thinking.

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Definitions:

Concise

Expressing much in few words; clear and succinct.

Barest Essentials

The most basic and fundamental components or requirements needed for something.

Goodwill

The intangible asset that arises as a result of the acquisition of one company by another for a premium value, representing factors like reputation, brand, and customer relations.

Survival

The ability of an entity, whether an individual, business, or species, to continue existence and maintain its functions in its environment.