Examlex
Compare and contrast the standard variance analysis approach with that need for ABC.
Preconceptions
Preformed opinions or beliefs, often without basis in fact or experience, that influence one's perception.
Availability Heuristic
A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.
Overconfidence
A cognitive bias where an individual's subjective confidence in their own abilities is greater than their objective accuracy.
Representativeness Heuristic
A mental shortcut that involves making a decision based on how closely a new situation or object resembles a prototype or typical case.
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