Exam 7: Representativeness and Availability

The state of Woolahra unrolls a new school program. Those schools that perform below the median receive additional funds for a new learning program to help the students improve and those schools that perform above the median do not receive funds for a new program. A year later the students in all schools were re-tested. Woolahra officials found that students in the low performing schools were more likely to have improved scores, whereas the students in the high performing schools were more likely to have lower scores than the previous year. The officials declared that the program was successful. What is a possible explanation for this change in scores?

Precision refers to the accuracy of a prediction.

The tendency to update one's beliefs too quickly when new information is easy to decipher is called the primacy effect.

The availability heuristic can lead to the recency effect.

I conduct an experiment to get an estimate of a parameter, $p$ . My estimate is $\hat{p}=6$ . Suppose I choose $\alpha=.05$ and conduct the following test: $H_{o}: \hat{p}=4 ; H_{1}: \hat{p} \neq 4$ . I fail to reject $H_{o}$ . What can I conclude?

I am planning an event for my firm and I must choose a dinner to serve to 100 people. I decide to serve a Ceasar salad as the first course. Since I prefer anchovies on my Ceasar salad, everyone else most likely does too. So I order 100 Ceasar salads with anchovies. Which term best describes my beliefs?

If two random variables $x$ and $y$ then all of the following are true except

The tendency to not learn from newly available information is called

What is the main idea of the weak law of large numbers?

Suppose event A and event B are independent. Which of the following is an example of the conjunction bias?