The Tendency to Perceive Meaningful Patterns in Random Sequences of Outcomes

question 192

Multiple Choice

The tendency to perceive meaningful patterns in random sequences of outcomes often leads us to underestimate the extent to which outcomes result from

• A) a placebo effect.
• B) psychic powers.
• C) hidden values.
• D) chance.

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Definitions:

Faulty Steering Mechanism

A defect in a vehicle's steering system that can lead to loss of control, potentially causing accidents or injuries.

Merchantable Quality

A standard for goods being sold under a contract, ensuring they are of sufficient quality to be sold for their ordinary purpose.

Implied Terms

Provisions not expressly stated in a contract but understood to be included based on the nature of the agreement, legal requirements, or customary practice.

Breach of Condition

A violation of a specific condition set in a contract, which can lead to the termination of the agreement.