An Estimation Technique That Begins with an Initial Approximation, Which

question 35

Multiple Choice

An estimation technique that begins with an initial approximation, which is then modified in accordance with additional information, is known as:

• A)status quo bias.
• B)regression to the mean.
• C)anchoring and adjustment.
• D)the representative heuristic.

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Definitions:

Characteristic Patterns

Recurring behaviors or attributes that are typical of a person, group, or process.

Behavior

refers to the actions or reactions of an individual or system in response to external or internal stimuli.

Emotion

A complex psychological state involving an organism's physiological response, subjective experience, and expressive behavior.

Thought

Thought encompasses the mental processes of perception, cognition, and reasoning that the mind engages in to interpret and interact with the world.