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SIZIF [17.4K]
2 years ago
9

1 pts Your friend wants to make a bet with you, and he gives you two options. If you choose Option 1, you will have an 80 percen

t chance of winning $100, but a 20 percent chance of losing $100. If you choose Option 2, you are guaranteed to win $5. If you are like most people when it comes to making decisions, you would probably choose ________ because of ________. Group of answer choices Option 1; confirmation bias Option 2: anchoring Option 1; the availability heuristic Option 2: loss aversion
Business
1 answer:
andrew11 [14]2 years ago
7 0

A person, similar to most other people, in the situation given above will choose confirmation bias because of the loss aversion.

<h3>What is confirmation bias?</h3>

The general human tendency to decide or favor with a particular thing in such a way that there are no chances of losing, and it guarantees or confirms a benefit, is known as a confirmation bias.

Hence, options A-1; B-2 hold true regarding the confirmation bias in the given situation.

Learn more about confirmation bias here:

brainly.com/question/13044778

#SPJ1

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What percentage of data would you predict would be between 40 and 70 and what percentage would you predict would be more than 70
Mariana [72]

Answer:

<em>The percentage of data of prediction between 40 and 70 is 0.4347 or about 43.57%., the percentage of prediction that would be more than 70 miles is 0.2389 or about 23.89%</em>

Explanation:

<em>Let us Recall that, </em>

<em>We can perform analysis using the z-score of certain values, only when the standard deviation and the men are. The z-score is the measure of how many standard deviations from the mean a certain value is known. by finding the percentage of values that is expected to be above or below a value is by applying the z-score </em>

<em>The first step is to find the z-score for each of these values. After that, we apply the Standard Normal Probabilities table to find the percentage between the values. The z-score given as follows, </em>

<em>z= x-ẋ/s </em>

<em> ẋ = the sample mean </em>

<em>s = the sample standard deviation </em>

<em>x = is the data value not given </em>

<em> The mean value is = 51.6571429 </em>

<em>The standard deviation value is = 25.8012116 </em>

<em> Then </em>

<em>The z score for 40 is given as </em>

<em> z = 40 – 51.6571429/ 25.8012116 = - 0.45 </em>

<em> The z score for 70 is given as, </em>

<em> Z = 70 – 51.6571429/ 25.8012116 = -0.71 </em>

<em> The table entry for both -0.45 and 0.71 is 0.3264, and 0.7611 </em>

<em>Therefore, </em>

<em> find the percentage between 40 and 70, we subtract table entries to get 0.7611 - 0.3264 = 0.4347 or about 43.57%. </em>

<em>To find the percentage above 70, we subtract the table entry for 70 from 1 to get 1 - 0.7611 = 0.2389 or about 23.89% </em>

4 0
3 years ago
Read 2 more answers
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production
dezoksy [38]

Explanation:

GDP formula is :  

GDP= Consumption (C)+ Investment (I)+ Government expenditure (G)+ Net exports (exports-imports)  

1.The costs of overfishing and other overly intensive uses of resources  

It is not accounted because GDP only measures the market value of goods and services produced. The cost of overfishing does not fit in any GDP account.  

2. The value of babysitting services, when the babysitter is paid in cash and the transaction isn´t reported

Reported cash services often sum in the consume account but if there is no record it is not accounted in the GDP calculation.

3.  Funds spent by city governments to renovate their buildings

It is accounted in the GDP calculation as a government expense (G)

4. A car that is made in Canada, and sold in the United States

It is accounted because it is consumed in the United States. This should be included in the imports account.

5. The quality of goods available to consumers.  

The quality is measured in some way because prices reveal at some level the good or service quality. But it is not an accurate measure because there are some goods and services which quality is not represented in their price.

7 0
3 years ago
A negative result of high tariffs is that they can sometimes lead to
kramer

Answer:

A negative result of high tariffs is that they can sometimes lead to PROTECTIONISM

Explanation:

Protectionism is an activity that happens in economics. What this is, is actually a type of policy that the government initiates within a country to restrict or try to stop trade, imports from international countries. This policy's sole purpose is to help the country improve its economic standing.

5 0
3 years ago
In terms of microeconomic analysis, what is the function of utils?.
makvit [3.9K]

Answer:  a measurement of utility

Explanation:

7 0
2 years ago
The continuous falling price level is called inflation.<br> True or false?
Anton [14]

Answer:

True

Explanation:

When it start failling it is still true.

6 0
3 years ago
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