The Representativeness Heuristic Is a Bias to Make Decisions Based

question 63

Multiple Choice

The representativeness heuristic is a bias to make decisions based on __________.

• A)how closely one outcome resembles the population of possible outcomes
• B)whether an option is represented in the set of possible outcomes
• C)how well one can represent the choice to other people
• D)the degree to which a choice represents a correct answer

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Definitions:

Accounting Information

Data related to the financial transactions and status of an individual or entity, used for decision-making and reporting purposes.

Government Entities

Government entities are organizations or bodies that are part of the public sector, operated by the government at the federal, state, or local level.

Managers

Individuals responsible for directing and overseeing the operations and activities within a part or all of an organization, making key decisions to achieve goals.

Assets Used

Refers to the assets that are employed or utilized in the operation of a business to generate revenue.