Which of the following is an example of the conjunction fallacy?
a. The probability of two events occurring together is thought to be higher than the probability of either event occurring alone.
b. Two events happening in conjunction is thought to be impossible if they are mutually exclusive.
c. A rare event is perceived to have a higher chance of happening to someone if the event is good (say winning the Powerball Lottery) vs. a rare event that is not good (say getting struck by lightening).
d. None of the above.
Question 2
Which of the following statements is not true regarding personal probabilities?
a. They often take relative frequencies of similar events into account.
b. They are based on unique situations that are not likely to be repeated.
c. We could each assign a different personal probability to the same event.
d. All of the above are true statements regarding personal probabilities.
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