For Each Question, Indicate Which Heuristic It Describes

question 6

Multiple Choice

For each question, indicate which heuristic it describes:
-Inner city crime in the U.S.gets considerable media coverage,such that every homicide is reported in the news.In contrast,a story of a person who died from a heart attack rarely makes the news.This leads people to overestimate the frequency of deaths due to homicides relative to those due to heart failure.

• A)The representativeness heuristic.
• B)The availability heuristic.
• C)The confirmation heuristic.
• D)The affect heuristic.

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Definitions:

Unit Cost

The cost incurred to produce, store, and sell one unit of a product, calculated by dividing total costs by the number of units.

Cost Driver

A factor that causes the cost of an activity or process to change.

Time Frame

The period during which an event occurs or is planned to occur, often with a specified start and end date.

Cost Data

Information related to the amounts incurred to create a product or service, used for budgeting, valuing inventory, and setting selling prices.