Author Question: You estimate the number of bottles of pop you'll need for the Fourth of July picnic, based on the ... (Read 27 times)

charchew · **on:** Jun 20, 2018

You estimate the number of bottles of pop you'll need for the Fourth of July picnic, based on the Christmas party consumption, but taking into account the fact that the weather will be warmer. Which heuristic does this example illustrate?

a. availability
b. base-rate fallacy
c. anchoring and adjustment
d. representativeness

Question 2

When people estimate confidence intervals, they typically

a. provide estimates that are too wide.
b. rely too heavily on the representativeness heuristic.
c. are not sufficiently confident about their decisions.
d. provide estimates that are too narrow.