How Many Spaces Should Be Provided to Have a 96

question 66

Multiple Choice

How many spaces should be provided to have a 96% probability of accommodating all of the waiting cars?

• A) 10
• B) 12
• C) 14
• D) 16
• E) 18

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Definitions:

Bounded Rationality

The idea that in decision-making, individuals are limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision.

Simple Strategies

Basic methods or approaches used to achieve a goal or solve a problem, often involving straightforward steps.

Irrational Decisions

Choices that are not based on logic or reasoning, often influenced by emotions or incorrect perceptions.

Functional Fixedness

A cognitive bias that limits a person's ability to use an object only in the way it is traditionally used, hindering creative problem-solving.