People Tend to Judge as Valid Those Conclusions for Which

question 86

Short Answer

People tend to judge as valid those conclusions for which they can construct a real-world model,and judge as invalid those for which they cannot.If your prior knowledge,attitudes,or values distort your reasoning process by influencing you to accept invalid arguments,you have fallen victim to the __________ effect.

---

Definitions:

Price Variance

The difference between the actual price paid for something and its standard or expected price, often analyzed in cost accounting.

Quantity Variance

The difference between the expected and actual quantity of materials used in production, reflecting efficiency in material usage.

Direct Materials

The raw materials directly used in the manufacturing of a product.

Budgeted Operating Income

The anticipated revenue from operations minus the expected operating expenses for a certain period, typically before financial expenses and taxes.