When a Decision Is Made Based on Beliefs or Assumptions

question 26

Multiple Choice

When a decision is made based on beliefs or assumptions despite evidence to the contrary, it is known as a(n) :

• A)Intuitive decision
• B)Prior-hypothesis bias
• C)Reasoned judgment
• D)Programmed decision

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Definitions:

Round

Rounding is the process of adjusting a number to a nearby value that is shorter, simpler, or more explicit, often to a specified number of decimal places or significant digits.

Completing the Square

A method used in algebra to solve quadratic equations by converting the equation into a perfect square trinomial.

Completing The Square

A method used to solve quadratic equations by adding a constant term to both sides to form a perfect square trinomial.

Compounded Annually

The process of calculating interest on both the initial principle and the accumulated interest of previous periods once per year.