Confirmation Bias Is

question 7

Multiple Choice

Confirmation bias is

• A) the psychological predisposition to listen to information that agrees with our beliefs and values and to ignore or distort information that disagrees with them
• B) the psychological predisposition to listen to information that confirms another person's point of view
• C) the psychological tendency to listen to information that contradicts our point of view
• D) a psychological tendency to do the opposite of what someone orders us to do

Calculate the operating cycle of a business.

Understand and calculate the cost related to revolving credit agreements.

Evaluate the cost of forgoing prompt payment discounts.

Identify terms of sale and their implications on borrowing costs.

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Definitions:

Goodness-of-fit Test

A statistical test used to determine how well observed data fit the expected distribution.

Two-way Classification

A method of organizing data that involves two independent variables to understand the relationship between them and their impact on a dependent variable.

Chi-square Technique

A statistical method used to assess the differences between observed frequencies and expected frequencies in one or more categories.

Qualitative Variables

Variables that describe or categorize attributes or characteristics of a sample or population, without implying any order or numerical value for comparison.