12-103Chapter 12 Notes That Researchers Such as Kahneman and Tversky

question 52

Multiple Choice

12-103.Chapter 12 notes that researchers such as Kahneman and Tversky are pessimistic about our decision-making skills,whereas researchers such as Gigerenzer are more optimistic.The optimists emphasize that

• A)the pessimists focused too much on real-life examples; in the laboratory,people are actually quite accurate.
• B)the major decision-making heuristics are actually highly accurate,and they almost always lead us to correct decisions,contrary to the theories advanced by the pessimists.
• C)the pessimists underestimate our decision-making accuracy because of factors such as choosing questions that contradict people's schemas.
• D)the pessimists have typically sampled groups of people living in the community; in contrast,college students make statistically appropriate decisions.

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Definitions:

Inventory Turnover Ratio

A financial metric indicating how many times a company's inventory is sold and replaced over a specific period, often used to assess the efficiency of inventory management.