When asked to guess whether Mark is from Montana or California, you guess California because more people live in California. You have used "base rate information" in making your decision.
<h3>What is Base Rate in Psychology?</h3>
Base rate is the frequency of a phenomenon that naturally occurs in a population. Using base rate information, rational decisions are made taking into account the general occurrence in a larger population in favour of the specific incidence in a particular case.
Effects of base rate information are-
- Base rate fallacy, as used in behavioural finance, is the propensity for people to incorrectly assess the likelihood of a situation by ignoring all pertinent information.
- Investors may instead place a greater emphasis on recent information without taking into account how this affects their initial hypotheses.
To know more about the characteristics of an annual percentage rate, here
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Vocational Subculture is the correct answer.
There are 4 types of subculture (such as collegiate, academic, nonconformist, and vocational). While the collegiate subculture focuses on having fun and socializing, the academic subculture identifies with the intellectual concerns of the faculty for its own sake and the nonconformist subculture is hostile to the college environment as a whole. However,<u> the vocational subculture is interested in one's career and does everything that is possible in order to obtain degrees that are paramount for advancement, which is Beverly's ultimate goal when attending a community college and working 30 hours weekly in a vet's office to pay her tuition and bills.</u>
Rain shadow effect makes utah oh of the driest states in the us
