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Monica [59]
3 years ago
11

Tom, the store manager, recently had to fire Jan, an employee who graduated from Paradise College. He felt that Jan was not well

trained at her school. So, when Jerry, also a graduate from Paradise College, applied for Jan's old position, he did not want to consider hiring him, feeling Jerry also probably did not receive the proper training. Tom was affected by _____ bias.
Business
1 answer:
loris [4]3 years ago
5 0

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 .  

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You can invest in an account that pays simple interest or an account that pays compound interest. In either case, you plan to in
trasher [3.6K]

Answer:

You will receive $201.38 more interest if the investment is made with a compound interest rate rather than a simple interest rate.

Explanation:

<u>Simple interest rate</u>

We can calculate how much interests you'd obtain if you deposited the $2,600 in a simple interest rate account.

We start using the following formula for calculating the simple interests:

I=P * r

Where:

<em>I</em> are the interests per year,

<em>P</em> is the amount being invested,

<em>r</em> is the interest rate.

Replacing in the formula with the given values we have:

I=2600*0.05=130

We then proceed to multiply this result by the <em>given number of years</em>, which is 8. We get 130*8=1040.

Finishing with the <em>simple interest rate</em>, if we wanted to know how much is the investment worth at the end of a 8 year period, we must merely add <em>the principal</em> (the $2,600) to the total interests after the end of the period ($1040). So 2600+1040= 3640.

We'll use these results later.

<u>Compound interest rate</u>

The formula for compound interests is the following:

I=P(1+r)^n

Where:

<em>I</em> is the value of the investment after <em>n</em> years,

<em>P</em> is the principal amount being invested,

<em>r</em> is the interest rate,

<em>n</em> are the number of years the investment is compounded.

Replacing in the formula with the given values we have:

I=2600*(1+0.05)^8=3841.38

After the 8 year period, the investor will have $3841.38 in it's compounded interest account.

<u>Comparing these results</u>

<u></u>

We can simply substract the value of both investments at the end of a 8 year period, to determine how much more interest does the compound interest rate account give in relation to a simple interest rate account.

The values we've gotten were:

$3,640 for the simple interest rate account, and

$3,841.38 for the compounded interest rate account.

3841.38-3640=201.38. Therefore the answer is: the account that pays compounded interests will pay $201.38 more to this invididual, compared to an account that pays simple interest.

8 0
3 years ago
ayton Inc. reports in its Year 7 annual report, sales of $7,362 million and cost of goods sold of $2,945 million. For next year,
maks197457 [2]

Answer: $2,974.45 million

Explanation:

Cost of goods sold for Year 7 = $2,945 million

Cost of goods sold is expected to increase by 1%.

Cost of goods sold in Year 8 will be:

= 2,945 * (1 + 1%)

= $2,974.45 million

3 0
2 years ago
Which of the following is a product-based business?
Sav [38]
Clothing is the answer
8 0
3 years ago
How can investors receive compounding returns? A: by selecting a savings account that has a higher interest rate B: by investing
ollegr [7]
I would choose A. But that's a recommended answer from my teacher<span />
6 0
3 years ago
When underapplied or overapplied manufacturing overhead is prorated, amounts can be assigned to which of the following accounts?
laila [671]

Answer:

b. Cost of Goods Sold, Work-in-Process Inventory, and Finished-Goods Inventory.

Explanation:

Whenever manufacturing overheads are prorated and under-applied or over-applied, then they are charged to inventory or cost which includes overheads as part of it.

As for instance, raw material inventory do not include any overheads, it is just the purchase price of inventory, as no work is performed on it.

Cost of goods sold, includes all the cost incurred to sale the good, from acquiring raw material to converting finished goods, and then adding the sales expense the goods are sold.

Finished goods include every material and overhead to convert the item into finished state and usable state.

Work in process is half way completed, or the percentage prescribed and includes raw material, includes overheads, but the product is somewhere more than raw inventory and less than finished good.

Therefore, correct option is:

b.

7 0
3 years ago
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