"We Can't Stop Now

question 111

Multiple Choice

"We can't stop now. We've already invested $100,000 in the project." This speaker is acting on the ________.

• A) anchoring effect
• B) availability bias
• C) representation bias
• D) sunk costs error

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Definitions:

Dependent Variable

In statistical modeling, this is the variable whose variation is being studied to see if it can be predicted or explained by variation in other variables.

Denominator Degrees

This key term does not appear to be standard; however, it may refer to the denominator in statistical formulas where degrees of freedom are considered.

Estimated Form

In statistics, it refers to the version of an equation that estimates the parameters of a model based on sample data.

Unit

A standard measurement or quantity used as a basis for counting, comparison, or calculation.