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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I'm not sure of the exact word you are looking for, but the general idea is that the federal law will always reign supreme if there is ever a conflict between the federal and state laws. Federal law is superior or higher-ranking or more preferable, etc.
Here is the exact phrasing from Article VI of the US Constitution: "This Constitution, and the laws of the United States which shall be made in pursuance thereof; and all treaties made, or which shall be made, under the authority of the United States, shall be the supreme law of the land; and the judges in every state shall be bound thereby, anything in the Constitution or laws of any State to the contrary notwithstanding."
<span>When
it comes to relationships, we expect to share thoughts, feelings, and
ideas in a mutual exchange called reciprocity.
</span>If
one partner in the relationship believes that they are and must be
superior or in control then r<span>eciprocity will be difficult or impossible to develop and maintain.
</span>
<span>Relationships with reciprocity are characterized with cooperation, understanding and ability to embrace interdependence.</span>
