Goldstein and Gigerenzer (1999,2002)display the Utility of Which Decision-Making Heuristic

question 38

Multiple Choice

Goldstein and Gigerenzer (1999,2002) display the utility of which decision-making heuristic in their study involving judging relative sizes of German cities?

• A) anchoring and adjustment
• B) representativeness
• C) recognition
• D) naïve diversification

---

Definitions:

Least-squares Regression Line

A straight line that minimizes the sum of the squared deviations of the data points from the line, used in linear regression analysis.

P-value

The probability of observing results as extreme as the results actually observed, under the assumption that the null hypothesis is true.

Hypotheses

Proposed explanations for a phenomenon, set as a basis for further investigation to prove or disprove.

Forbes 500 List

An annual ranking of the top 500 publicly traded companies in the United States by Forbes magazine, based on criteria such as sales, profits, and market value.