Even with All of the Advances in Recent Years, Forecasting

question 139

True/False

Even with all of the advances in recent years, forecasting is typically considered more of an art than a science and it is of little use in generating accurate predictions.

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Definitions:

Outgroup Homogeneity

The tendency to view members of an outgroup as more similar to one another than members of one's own group (ingroup).

Wealthy People

Individuals possessing a significant amount of capital, assets, or resources, well above the financial average of the general population.

Ill-Gotten Gains

Profits or benefits acquired dishonestly or through unethical means.

Just-World Phenomenon

A cognitive bias that leads individuals to believe that the world is inherently fair, leading them to rationalize an unwarranted, good or bad situation as deserving.