The Error in Intuitive Thinking in Which a Choice Is

question 63

Multiple Choice

The error in intuitive thinking in which a choice is given greater weight if it seems to relate to what we already know is called

• A)the framing heuristic.
• B)base rate.
• C)the representative heuristic.
• D)the relational heuristic.

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Definitions:

Annual Dividend

An annual dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits on a yearly basis.

De Jure Corporation

A corporation that has fully complied with all statutory requirements for incorporation and is legally recognized.

Conditions Precedent

Specific conditions outlined in a contract that must be met before the contract becomes legally binding or before a party is obligated to perform their part of the agreement.

Mandatory Conditions

Requirements or clauses within a contract or legal provision that are compulsory and enforceable, requiring strict adherence by all parties involved.