Even Though He Knows Only a Small Percentage of High

question 119

Multiple Choice

Even though he knows only a small percentage of high school athletes go on to professional careers,Charlie believes that he will receive a scholarship to play football in college and then will have a career in the NFL.Charlie is

• A) not applying base rates to himself.
• B) applying base rates to himself.
• C) not applying the conjunction fallacy.
• D) applying the conjunction fallacy.

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Definitions:

Inventory

Items, such as raw materials, work-in-progress, and finished goods, that a company holds with the intention of selling them.

Operating Activities

Day-to-day business functions and transactions that affect a company's net income, primarily revenue and expense activities.

Net Income

The amount of money that remains after subtracting all expenses, taxes, and costs from total revenue.

Cash Dividends

Payments made by a corporation to its shareholder members. It is the share of profits distributed.