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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The answer is A. True. People can reduce the number of conflicts in which they are involved if they learn how to identify the causes of conflict. Humans have different communication styles, influences as well as environment. People should learn to see the signs among the people that they are surrounded so that they can prevent any conflicts. Better yet, conflict can be resolved when we learn to understand and solve the problem rather than blaming.
Answer:
outflow
Explanation:
Whenever there is deficit between exports and imports, is indicates that people demand more imports than exports thus there is net outflow of US dollar to meet the growing demand for imports.
<span>Integration is the creation of links between previously separate computer systems, applications, services or processes.
I would say D would be the best answer!</span>
