Szandór Is a Small Business Owner Who Thinks It Is

question 1

Multiple Choice

Szandór is a small business owner who thinks it is more important to spend money on marketing his current product line than to invest in research to develop new products.Which psychological bias is Szandór displaying?

• A)framing effects
• B)discounting the future
• C)illusion of control
• D)affective conflict
• E)cognitive conflict

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Definitions:

Variation

A term describing the extent to which data points in a dataset differ from each other and from the mean.

Class Interval

A fixed range of values, used in the creation of a frequency distribution.

Distribution

Refers to the way in which something is spread or dispensed across a range of values or over a geographic area.

Class Interval

A range of values within which a variable can be categorized in the distribution of data.