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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<span>The Society of Jesus provides training for priests, which would ensure that only the qualified people can handle church positions.</span>
Answer:
Because He would bring peace which made Chamberlain hopeful.
He led one of the largest ever empires in the indian subcontinent and also followed Buddhism, which changed him into a very peaceful emperor
Answer:
checks and balances
Explanation:
Checks and balances refers to a principle of government that specifies clearly the doctrine that separate arms of government are authorized by the constitution of the country or state to regulate the activities of other arms of government with which they share power.
Checks and balances is a fundamental principle of government across the world. The arms of government that share power are usually; executive, legislature and judiciary.
