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Author Question: You estimate the number of bottles of pop you'll need for the Fourth of July picnic, based on the ... (Read 39 times)

charchew

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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.


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sultana.d

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Reply #1 on: Jun 20, 2018
Answer to Question 1

Ans: c

Answer to Question 2

Ans: d


charchew

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Reply 2 on: Jun 20, 2018
Thanks for the timely response, appreciate it

Joy Chen

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Reply 3 on: Yesterday
:D TYSM

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