Answer:
representativeness bias
Explanation:
Representativeness bias -
It is also known as representativeness heuristic .
Heuristics refers to the use of some mental shortcuts during the process of judging or decision making .
The term representativeness heuristic was first given in the year 1970 , by psychologists Daniel Kahneman and Amos Tversky .
The use of heuristic for making any judgement by the use of comparison , is referred to as representativeness heuristic .
The process involves comparison with some predefined object or situation , with the new object or scenario , makes the process of understanding much more easier .
Hence , from the given information of the question ,
The correct term is representativeness heuristic .
Answer:
Profit maximising price = 48
Explanation:
Total Cost : C (x) = 8x + 3
Demand Curve : p (x) = 88 − 2x
Total Revenue = p (x). x = x (88 - 2x) = 88x - 2x^2
Profit maximisation is where Marginal Cost (MC) = Marginal Revenue (MR)
MC = d TC / d Q = d (8x + 3) / d x = 8
MR = d TR / d Q = d (88x - 2x^2) / d x = 88 - 4x
Equating MR & MC ,
88 - 4x = 8 , 88 - 8 = 4x
x = 80 / 4 , x = 20
Putting value in demand curve,
p = 88 - 2x = 88 - 2 (20) = 88 - 40
p = 48
Answer:
The correct answer is the second option: to monitor the progress of a multi-step project during its development.
Explanation:
To begin with, a <em>"Program Evaluation and Reviews Techniques"</em> or PERT as it name indicates it refers to an stadistic technique by which the companies can follow the process of certain projects that they are having currently. Moreover, its main purpose is to manage and analyze the steps that a project has in order to make them less susceptible to errors. In addition to that, its main factor to observe is the time during the steps of the project. Nowadays is very common to use a tool like this in major companies.
To get the total insurance premium, just add the three premiums:Total premium = liability + collision + comprehensivewhere:liability = $510collision = $220comprehensive = $ 130Total premium = $510+$220+$130 =$860
Answer:
<u><em>$69.80</em></u>
Explanation:
Note, a market order is an order designed to execute an order immediately by <em>matching the best available price</em> on the sell order list.
When we look carefully at the sell order book, we observe that the only sell order containing the specified quantity of 120 units of shares at a price close to the market price is <u>$69.80.</u> Even though there are other cheaper orders are available, their order quantity does <em>not </em>match the market buy order for the 120 shares and thus would not be filled.
