What Cognitive Tendency Is Described by the Conjunction Fallacy

question 181

Multiple Choice

What cognitive tendency is described by the conjunction fallacy

• A) drawing general conclusions based on a few isolated cases 
• B) ignoring information about base rates when estimating the probabilities of certain combinations of outcomes 
• C) believing that the odds of two uncertain events happening together are greater than the odds of either event happening alone 
• D) overestimating the odds of a chance event if that event hasn't occurred recently

---

Definitions:

Activity-Based Costing

A method of costing that identifies specific activities within an organization and assigns costs to those activities based on their use of resources.

Activity-Based Costing

A costing method that assigns costs to products and services based on the resources they consume.

Labor-Related

Pertaining to aspects of work or employment, often focusing on workers, their conditions, wages, or productivity.

Direct Labor-Hours (DLH)

The total amount of labor time expended directly on manufacturing or producing goods, often used to allocate costs to products.