Examlex
Which of the following pairs of people are most likely to score differently on an IQ test?
Coin Flip
A basic probability event with two possible outcomes, heads or tails, often used to illustrate randomness or make simple decisions.
System I "Shortcuts"
System I "Shortcuts" refer to the fast, automatic, intuitive responses and decisions our brain makes without the need for conscious analytical thought.
Utility Theory
Utility theory is an economic model that explains how individuals make decisions based on the perceived value or benefit of the outcomes.
Utility Theory
A framework in economics and finance that describes how individuals make choices based on the perceived benefit or satisfaction they will gain, aiming to maximize utility.
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