The Tendency for People to Base Their Judgments on Information

question 20

Multiple Choice

The tendency for people to base their judgments on information that is readily available but may NOT be accurate is called

• A)representative bias.
• B)availability bias.
• C)escalation of commitment.
• D)heuristical fallacy.
• E)bounded discretion.

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Definitions:

M&M Candy

A brand of colorful button-shaped chocolates produced by Mars, Incorporated.

Same Color

In the context of data visualization, refers to using a single color to represent a certain category or data group for easy identification.

Production Run

A period of manufacturing activity where a particular process or item is produced continuously or in batches.

Sampled

The process of selecting a subset of individuals from a population to estimate characteristics of the whole population.