The Human Tendency to Believe Only Those Data That Agree

question 50

Multiple Choice

The human tendency to believe only those data that agree with one's preconceptions and ignore other data that contradict the preconceptions is called

• A)confirmation bias.
• B)self-serving bias.
• C)overconfidence effect.
• D)availability heuristic.

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Definitions:

Spending Variances

Differences between the budgeted or planned amount of expenses and the actual amount spent.

Customers Served

The number of consumers who have been provided with services or products by a business during a specified period.

Revenue Variance

The difference between the actual revenue earned by a company and its expected (or budgeted) revenue.

Spending Variances

Variances that arise when there is a difference between the actual amount spent on a particular item or activity and the budgeted or forecasted amount.