Availability Heuristic Refers To

question 40

Multiple Choice

Availability heuristic refers to:

• A)the tendency to choose an alternative that is good enough rather than the best.
• B)the tendency for people to influence an initial anchor point.
• C)the tendency to evaluate probabilities of events or objects by the degree to which they remember other events or objects.
• D)the natural tendency to assign higher probabilities to objects or events that are easier to recall from memory.
• E)the tendency for decision makers to evaluate alternatives sequentially rather than comparing them all at once.

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Definitions:

Random Error Term

Refers to the unpredictable and inevitable fluctuations or deviations in data or experimental results that cannot be attributed to the variables being studied.

Variance

A statistical measure that represents the average squared deviation from the mean, showing how data points are spread out.

Sample Correlation Coefficient

measures the strength and direction of the linear relationship between two variables in a sample.

P-Value

A measure in statistical hypothesis testing representing the probability of obtaining test results at least as extreme as the ones observed, assuming the null hypothesis is true.