Ignoring the Base Rate

question 211

Multiple Choice

Ignoring the base rate

• A)involves not paying attention to the underlying probability of an event occurring.
• B)often leads to one making an error in judgment.
• C)is the same as thinking you or a situation is an exception to the rule.
• D)is characterized by all of these.

---

Definitions:

Implied Warranty

A legal term referring to the assurances that a product will perform as expected, even though not explicitly stated by the seller.

Fitness

A state of health and well-being, often achieved through regular physical activity, proper nutrition, and adequate rest.

Suitable Goods

Products that meet a buyer's requirements and are fit for the intended purpose, adhering to descriptions or samples shown at the time of sale.

Express Warranty

A written or spoken promise from a seller regarding the quality, functionality, or condition of a product.