Statisticians Persi Diaconis and Frederick Mosteller Commented,"But with a Large

question 16

Multiple Choice

Statisticians Persi Diaconis and Frederick Mosteller commented,"But with a large enough sample,any outrageous thing is likely to happen." What were they referring to?

• A) hindsight bias
• B) overconfidence
• C) scientific inquiry
• D) perceiving patterns in random events

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Definitions:

Competitive Market

A market structure where many sellers are offering products or services that are similar, fostering high levels of competition.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, resulting in market equilibrium.

Agricultural Product

Goods resulting from the cultivation of plants and rearing of animals intended for human use or consumption.