When People Estimate That the Odds of Two Uncertain Events

question 285

Multiple Choice

When people estimate that the odds of two uncertain events happening together are greater than the odds of either event happening alone, they are displaying the:

• A)gambler's fallacy
• B)overconfidence effect
• C)conjunction fallacy
• D)framing effect

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Definitions:

Group Effort

The combined effort and collaboration of members working together towards a common goal within a group or team.

Managerial Task

Managerial task refers to the specific duties, responsibilities, and activities that managers are required to perform as part of the management process, including planning, organizing, leading, and controlling.

Contingency

A future event or circumstance that is possible but cannot be predicted with certainty.

Operative Goal

A specific, detailed target that an organization aims to achieve, often related to its day-to-day operations.