The Chart Shows Second Quarter Total Retail E-Commerce Sales in the U.S

question 93

Multiple Choice

The chart shows second quarter total retail e-commerce sales in the U.S. in 1999, 2001 and 2003 ( represents 1999) . Find the regression line. Round coefficients to two decimal places. Year t 0 2 4 Sales ($ Billion) 4 8 13 Use the regression line to estimate second quarter retail e-commerce sales in 2002. Round your answer to two decimal places.

• A) billion
• B) billion
• C) billion
• D) billion
• E) billion

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Definitions:

Anchoring And Adjustment

A cognitive heuristic where individuals rely too heavily on an initial piece of information (anchor) when making decisions, adjusting insufficiently from that anchor.

Frame Dependence

The tendency of individuals to make different (and potentially inconsistent) decisions depending on how a question or problem is framed.

Aversion To Ambiguity

A preference to avoid uncertain or ambiguous situations, often reflected in decision-making processes.

Clustering Illusion

The cognitive bias of seeing patterns in random events.