The Perception of a Statistical Association Between Two Variables Where

question 217

Multiple Choice

The perception of a statistical association between two variables where none exists is known as ______________.

• A) confirmation bias
• B) illusory correlation
• C) existence proof
• D) type II error

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Definitions:

Net Income

The total profit of a company after all expenses and taxes have been deducted from total revenues.

Infrequent Gain/Loss

Earnings or losses that arise from events that are not expected to recur regularly, distinguished from ordinary operational results.

Continuing Operations

The segments of a business expected to continue operating into the foreseeable future, excluding any discontinued operations.

Extraordinary Item

An unusual and infrequent gain or loss that is reported separately in the financial statements.