People Think That Two Events Are More Likely to Occur

question 182

Multiple Choice

People think that two events are more likely to occur together than either event is likely to occur individually.This phenomenon is called the:

• A)conjunction fallacy.
• B)category fallacy.
• C)representative heuristic.
• D)sunk-cost fallacy.

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Definitions:

Probability

Probability is a measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Student T Random Variable

A variable that follows the Student's t-distribution, often used in the context of small sample sizes when the population variance is unknown.

Variance

The average of the squared differences from the mean, showing the spread between numbers in a data set.

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution, typically in the context of parameter estimation or hypothesis testing.