1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
oksano4ka [1.4K]
3 years ago
14

How are random events taken into consideration during both hindsight bias and overconfidence?

Business
1 answer:
Orlov [11]3 years ago
6 0
The hindsight bias and overconfidence, plus our eagerness to perceive patterns in random events, can cause tendencies that may lead us to overestimate our intuition. Intuition and intellect are not always accurate, therefore these factors are not trustworthy compared to scientific facts or scientific inquiry which can help us overcome our intuition’s biases and shortcomings.
You might be interested in
Cork Oak Corporation purchased a heavy-duty truck (not considered a passenger automobile for purposes of the listed property and
vlabodo [156]

Answer:

$3200

Explanation:

The depreciation expense under the conventional straight line depreciation will be calculated using the following formula:

Straight-line Depreciation = (Cost - Scrap Value) / Useful Life

The useful life here is 5 years, cost is $24000 and scrap value is $0 which can be calculated using the following formula:

Straight-line Depreciation = ($24,000 - 0) / 5 Years = $4800 per year

This is for a year and we need  for the year end 31 December, 2019 for eight months.

The per month depreciation charge = $4800 / 12 = $400 per month

For 8 months = $400 * 8 months = $3200

7 0
2 years ago
Cinnamon Toast Crunch cereal and Trix cereal are considered substitute goods. Because of this, one would predict that, holding a
zvonat [6]

As Crunch cereal and Trix cereal are substitute goods, then, if the price of Crunch cereal increases, then, we would see that the demand curve for Trix cereals will shift to the left

<h3>What causes demand curve to shifts to left? </h3>

In economics, when the demand curve shifts to the left it means that determinant causes demand to drop and less of the good or service is demanded.

In conclusion, if the price of Crunch cereal increases, then, we would see that the demand curve for Trix cereals will shift to the left

Read more about demand curve

<em>brainly.com/question/1979620</em>

7 0
2 years ago
1. Discuss the consumer decision making process for a product such as canned/packaged tuna and the response hierarchy model this
steposvetlana [31]

Answer

Because of the shift away from media promoting, the dynamic interaction has changed incredibly. When media promoting was weighty with COSI and StarKist, customers had gotten used to seeing the advertisements and their separate symbols. Buyers were extremely faithful to a particular brand and the reliability outgrew the recognizable symbols "Charlie the Fish" and the mermaid for COSI. Since the center has moved to principally print advertisements, advancements coming up, and coupons, there is something else entirely to keep the customer dynamic cycle occupied. An item, for example, canned fish isn't a need, and in this way can without much of a stretch be supplanted by substitutes. There is more seriousness since a buyer could simply pick a brand since it is the least expensive at a specific store or in light of the fact that they discovered a coupon in a notice. Brand devotion is done being squeezed into shoppers' psyches through business spots with an agreeable mermaid. Presently, organizations are battling to offer more advancements or more limits to build deals, yet the outcome is that for certain buyers each excursion to the store could end with an alternate brand on fish being bought. Purchasers are presently being reached at home through paper advertisements, intelligent item sites, and different advancements. Clients might have settled on their choice before going on an outing to the store. Clients would have followed the Progressive system of Impacts Model before the promoting endeavors moved from media publicizing. Shoppers knew about the brands since they were faithful and fabricated inclinations after some time that prompted buying one brand over the other. Presently, the last buy isn't driven by dedication, however rather each buy has the customer taking a gander at a few components. The activities of retail deals, print advertisements, or different advancements influence their purchasing conduct.

8 0
2 years ago
The income statement of Benning Co. for the month of July shows net income of $1,400 based on Service Revenue $5,500, Wages Expe
Rom4ik [11]

Answer:

Net Income = $1,250

Explanation:

Benning Co.

Income Statement

For the Month Ended July 31, 2010

Particulars                             $                     $

Revenues                                                6,000 (1)

Expenses:

Wages Expense               2,600 (2)

Supplies Expense            1,000 (3)

Utilities Expense                600

Insurance Expense            400

Depreciation Expense       150

<em>Total expenses                                 </em><u><em>      4,750   </em></u>

Net Income                                            $1,250

<u><em>Note:</em></u>

1. Revenues = 5,500 + 500 (Adjustment 5) = $6,000

Performed services not recorded will add.

2. Wages expense = $2,300 + 300 (Adjustment 3) = $2,600

Accrued wages not paid will add to the wages expense.

3. Supplies Expense = $1,200 - 200 (Adjustment 2) = $1,000

Supplies expense includes supplies on hand will decrease the supplies expense.

3 0
3 years ago
A monopolist has the total cost function c(q) = 750 + 5q. The inverse demand function is 140 - 7q, where prices and costs are me
Ierofanga [76]

Answer:

d. the firm will lose $750

Explanation:

marginal cost is the derivate of the cost function: It represent the cost of producting an additional unit

cost: 750 + 5q

dC/dQ = 5

We have determinate that marginal cost is $5 thus, we should price at the same value. The mistake from the goverment is to equalize marginal cost with price instead of marginal revenue.

This will make the firm loss the fixed component of the cost as will sale to pay up the variable cost.

The fixed cost is $750 so that is the loss from operations

4 0
3 years ago
Other questions:
  • A company's product sells at $12 per unit and has a $5 per unit variable cost. The company's total fixed costs are $98,000. The
    7·1 answer
  • Crunch Lite produces six different flavors of sugar-free cookies for the diabetic population. The company also produces a large
    13·1 answer
  • Knowledge Check 01 Assume that we use a perpetual inventory system and that five identical units are purchased at the following
    12·1 answer
  • Kermit bought a production line 5 years ago for $35,000. At that time it was estimated to have a service life of 10 years and sa
    12·1 answer
  • Determination of Retained Earnings and Net Income The following information appears in the records of Bock Corporation at the en
    5·1 answer
  • Which of the following statements about renting and owning is correct
    9·2 answers
  • Ming is a manager for a large food service company. She has the authority to determine whether or not the company should expand
    13·1 answer
  • When partners own different portions of the business, the terms should be stated clearly in what document?
    6·2 answers
  • As reported by the Bureau of Labor Statistics, the CPI for Airfare in 2263 was 586.1 (using a base year of 1914 = 100). The CPI
    5·1 answer
  • One of the most popular and effective ways to teach students are known as S.M.A.R.T goals. S.M.A.R.T is an acronym that stands f
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!