Which of the Following Factors Would Explain the Seemingly Irrational

question 13

Multiple Choice

Which of the following factors would explain the seemingly irrational behavior of a father who smokes (high risk factor for baby) throwing away his baby's teething rings that may contain phthalates (seemingly low risk factor for baby) .

• A) People tend to downplay risks that are associated with activities they are committed to or enjoy.
• B) Most people do not understand the concepts of probability.
• C) News media can give a biased view of hazards.
• D) People tend to have an irrational fear of certain technologies that are not as well understood.
• E) All of these factors can lead to the relatively irrational behavior demonstrated by the father.

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Definitions:

Standard Costs

The expected costs associated with producing a product or performing a service, used for budgeting and performance analysis.

Hours

A measure of time representing 60 minutes, often used to track labor or production time in business.

Cost of Goods Sold

The expenses directly associated with manufacturing the products that a company sells.

Variances

Differences between planned or expected financial outcomes and the actual results, typically used in budgeting and performance assessment.