If the Foreign Exchange Rate Is 70 Cents for One

question 249

Multiple Choice

If the foreign exchange rate is 70 cents for one Swiss franc, then

• A) a car that costs 40,000 francs will cost $7,143.00.
• B) a wine that costs 200 francs will cost $14.00.
• C) a clock that costs 500 francs will cost $350.00.
• D) a house that costs 100,000 francs will cost $700,000.00.

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Definitions:

Observations

The act of monitoring or recording systematically selected variables or phenomena to gather data for analysis.

Illusory Correlation

The mistaken perception of a relationship between two variables that are, in fact, not related.

Cognitive Bias

A systematic pattern of deviation from norm or rationality in judgment, where individuals create their own "subjective reality" from their perception.

Temporal Precedence

A principle stating that for one thing to cause another, the cause must occur before the effect.