Asked by
Rosebabu Ambrose
on Dec 22, 2024Verified
If you knew that only one per cent of inventors actually have a handsome income you would have an example of:
A) representativeness.
B) the illusory correlation.
C) regression to the mean.
D) base-rate information.
Base-Rate Information
Statistical information about the frequency of events or characteristics within a given population, used in decision-making processes.
Illusory Correlation
The false perception of a relationship between two variables or events, often due to a cognitive bias or mistaken assumption.
Handsome Income
A significantly large amount of money earned, often implying higher than average.
- Explain the significance and impact of base-rate information in judgment.
Verified Answer
SS
Learning Objectives
- Explain the significance and impact of base-rate information in judgment.