What Is the Term for Basing the Estimated Probability of an Event

question 77

Multiple Choice

What is the term for basing the estimated probability of an event on the ease with which instances come to mind

• A) representativeness heuristic 
• B) law of small numbers 
• C) conjunction fallacy 
• D) availability heuristic

Understand the historical evolution of perspectives on deviance and criminal behavior.

Identify examples of positive deviance and its societal perception.

Understand the assumptions underlying the positivist perspective on deviance.

Explain the significance of examining deviant behavior through both an absolute and a relativist viewpoint.

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Definitions:

Economic Order Quantity

A formula designed to determine the optimal order size to minimize the costs of holding and ordering inventory.

Net Present Value

The calculation of the present value of an investment's expected cash inflows minus the costs.

Cash Sales Policy

A policy adopted by businesses that requires all purchases to be paid for in cash at the time of sale.

Net 30 Credit Policy

A credit term indicating that payment is due in full 30 days after goods are delivered or services are performed.