Question: Consider this experiment: people were asked to write down a random two-digit number on a blank sheet of paper. Then, they were asked to estimate

Consider this experiment: people were asked to write down a random two-digit number on a blank sheet of paper. Then, they were asked to estimate the price of an object (such as a cordless keyboard). The experimenter found a positive correlation between the two numbers - the larger the random 2-digit number, the larger the estimated price of the keyboard. What cognitive bias best explains this result? a) Availability bias b) Anchoring bias c) Confirmation bias d) Halo bias

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

After reading research article, please respond to the questions that follow: Introduction The use of social media is pervasive and growing rapidly worldwide. Facebook is the most popular social media...

What Most People Get Wrong About Men and Women Research shows the sexes aren't so different. Extracts. Magazine (May-June 2018) The conversation about the treatment of women in the workplace has...

Proof Creator 1 Problems MAT246 LEC0101, Fall 2021 Assignment Information Writing Tips: See the handout posted on the course website. Also the additional writing supports (writing centres, ELL...

The owner of a smoky bar in a warm climate relies on natural exchange between the bar and outside to keep smoke levels manageable in the bar (below 50 microgram/m). Smokers account for a smoke PM10...

The cash receipts journal of Silver Plastics follows: Silver's general ledger includes the following selected accounts, along with their account numbers: Number _________________ Account_____________...

In Exercises 5972, simplify each complex rational expression. 1 y x + y X

=+19. Flight decision, part 4. For the decision of Exercise 11, youve just learned that you are on the short list and now estimate the chance that youll be called for an interview is 0.70. Does that...

On January 1, 2016, Bacco Company had a balance of $72,350 in its Delivery Equipment account. During 2016, Bacco purchased delivery equipment that cost $22,100. The balance in the Delivery Equipment...

Note:- Give a complete explanation. A corporation has the following account balances: Common stock, $1 par value, $243,000; Paid-in Capital in Excess of Par Value, $1,254,000. Based on this...

The following balance sheet data are for Brintany Coastal Catering Service, a corporation, at May 31,2019 : Required Prepare a balance sheet for Brintany as of May 31, 2019. Accounts receivable.....

mine missing nts and calculate ability ratios. Dueck Ltd. $ (6) 48,000 2,130,000 1.172.000 E5-11 Income statement information is presented here for two companies Marchant Ltd Sales $1,460,000 Sales...

SHOW ALL YOUR WORK Please answer these two questions thoroughly and I will leave a good review Problem # 7 (12.5 pts). In the following table 277 college students are classified according to their...

The 1-kg bar is held in the position shown in figure QB3, where the spring is unstretched. Note that the spring attached to its end always remains vertical due to the roller guide at C. 1 kg 2 m...

In recent years, OSHA has been issuing "unclassified" violations with increasing regularity. How might an employer benefit from receiving an "unclassified" violation. Instead of a "willful"...

1. The Fagersta Steelworks currently is working two mines to obtain its iron ore. This iron ore is shipped to either of two storage facilities. When needed, it then is shipped on to the companys...

Research on the current trends on the Supply Chain Processes (SCP): Information Systems and Information Technology. Based upon your analysis, present at least three examples, about...

2) Find the network and broadcast address using host bit substitution (Method 2)

A. Select a recent issue (paper or online) of Report on Business Magazine, Canadian Business Magazine (online only), Bloomberg Businessweek, Fast Company, The Economist, or another business magazine....

=+b. Calculate the investments net present value (NPV) at each of the following discount rates: 0%, 5%, 10%, 15%, 20%, 25%, 30%, and 35%.

=+d. Draw the net present value profiles for each store on the same set of axes, and discuss any conflict in ranking that may exist between NPV and IRR.

=+c. What does your answer to part b tell you about this projects IRR?