Old or Out-Of-Date Data May Not Be Useful at All

question 47

Multiple Choice

Old or out-of-date data may not be useful at all because:

• A)It would be difficult to source.
• B)It would be difficult to understand.
• C)The world may have changed substantially since that data was published.
• D)The nature of data may have changed substantially since that data was published.

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Definitions:

Representativeness Bias

A cognitive bias where individuals incorrectly assess the likelihood of an event based on how closely it resembles their stereotypes of a category.

Lack-of-participation Error

A common mistake in decision-making processes, where not all relevant parties are involved, leading to suboptimal outcomes.

Escalating Commitment

A behavioral phenomenon where an individual or group continues to invest in a decision despite evidence of its ineffectiveness.

Confirmation Error

A cognitive bias that involves focusing on information that confirms one's preconceptions and ignoring information that contradicts them.