In the early 1990s, there were approximately 5 billion people in the world. Plous (1993, p. 5) asked readers to estimate how wide a cube-shaped tank would have to be to hold all of the human blood in the world. The correct answer is about 870 feet, but most people give much higher answers. Explain which of the concepts covered in this chapter leads people to give higher answers.
Answer to relevant QuestionsExplain how the concepts in this chapter account for each of the following scenarios: a. Most people rate death by shark attacks to be much more likely than death by falling airplane parts, yet the chances of dying from the ...Refer to the scenarios in Table 16.1 on page 347. Suppose someone stands to gain $ 100,000 in a lawsuit, but there is a 5% chance that something will go wrong and they will get nothing. They are offered a settlement of $ ...Research by Slovic and colleagues (1982) found that people judged that accidents and diseases cause about the same number of deaths in the United States, whereas, in truth, diseases cause about 16 times as many deaths as ...Suppose a friend reports that she has just had a string of “bad luck” with her car. She had three major problems in as many months and now has replaced many of the worn parts with new ones. She concludes that it is her ...Suppose you are trying to decide whether to park illegally while you attend class. If you get a ticket, the fine is $ 25. If you assess the probability of getting a ticket to be 1/100, what is the expected value for the fine ...
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