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The university registrar claims that fewer than 20 percent of undergraduate students stay in residence for their four years as students. To test this claim, a random sample of 100 graduating students was selected, and 18 were found to have lived in residence for their four years.
-The p-value associated with the test statistic is _____.
Decision Making
The cognitive process of selecting a course of action among multiple alternatives, often based on a systematic evaluation.
Framing
This is the process of constructing a viewpoint or perspective in communication, influencing how information is interpreted and understood.
Heuristics
Mental shortcuts or "rules of thumb" that simplify decision-making processes, often utilized when making judgments under uncertainty.
Framing Error
A cognitive bias where people make decisions based on the way information is presented rather than just the facts themselves.
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