Prior to the Beginning of This Semester, Bob Estimated That

question 144

Multiple Choice

Prior to the beginning of this semester, Bob estimated that he had a 90 percent chance of earning a 3.5 grade-point average (GPA) for the semester. After receiving his midterm grades (3 Cs and 2 Ds) , Bob estimated that he had roughly an 85 percent chance of earning a 3.5 GPA. In this example, the ________ heuristic is causing Bob to make an unrealistic assessment of his academic standing.

• A)anchoring
• B)representativeness
• C)availability
• D)functional

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Definitions:

Exaggerated Sales Talk

Promotional statements and claims that stretch the truth or embellish the virtues of a product or service beyond reasonable limits.

Misleading Claims

False or deceptive statements made, especially in advertising or marketing, that can misguide consumers regarding the true nature or benefits of a product or service.

Unfair Claims

Practices in the insurance industry that unreasonably delay, deny, or reduce payment to policyholders.

Emotional Distress

A legal term denoting a claim for damages in lawsuits for actions causing psychological harm due to negligence or intentional acts.