The Representativeness Heuristic Refers to Our Tendency to ​

question 85

Multiple Choice

The representativeness heuristic refers to our tendency to ​

• A)ignore subjective probabilities when making decisions.
• B)estimate the probability of an event by judging the ease with which relevant instances come to mind.
• C)estimate the probability of an event based on how similar it is to the typical prototype of that event.
• D)ignore common stereotypes when estimating probabilities.

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Definitions:

Technological Improvements

Enhancements and innovations in technology that increase productivity, efficiency, or value in processes or products.

Additional Resources

Refers to extra assets or inputs available that can be used to enhance the production or efficiency of something.

Investment

Allocating resources, usually money, with the expectation of generating an income or profit.

Capital

Assets or money owned by an individual or organization, or funds available for specific purposes like establishing a company or investment.