If One Does Not Pay Attention to the Underlying Probability

question 34

Multiple Choice

If one does not pay attention to the underlying probability of an event occurring, faulty decisions are made due to

• A)ignoring the base rate.
• B)the framing effect.
• C)the representativeness heuristic.
• D)"thin-slicing."

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Definitions:

Bell Canada

A major Canadian telecommunications and media company that provides a wide range of products and services including internet, television, and phone services.

Work Redesign

Involves altering jobs to improve employee satisfaction, productivity, and efficiency, potentially by enhancing job scope, depth, or work processes.

Social Networks

Platforms or communities where individuals can interact, share, and communicate with each other over the internet, or the interconnected structure of social relations.

Significant Decisions

Major choices or judgments that have a large impact on an individual's or organization's direction and outcomes.