Multiple Choice
Tammy and Peter are asked to consider their addresses (note: Tammy's address is 6868 Sycamore Lane. Peter's address is 1400 Center Street) , and then to estimate the distance between their homes. Tammy guesses 6000 miles. Peter guesses 2000 miles. This example best illustrates _________________.
A) The anchoring heuristic
B) Confirmation bias
C) The availability heuristic
D) The sunk cost effect
E) The representativeness heuristic
Correct Answer:

Verified
Correct Answer:
Verified
Q13: According to your textbook, the first step
Q14: Confirmation bias refers to a tendency to:<br>A)
Q15: What is meant by the term "bounded
Q16: Which of the following is considered a
Q17: Which of the following biases leads people
Q19: _ are rules of thumb, or shortcuts
Q20: The notion of bounded rationality suggests that
Q21: According to the textbook, intuition is a
Q22: A cognitive bias that involves overestimating one's
Q23: Todd's horoscope predicted that he would soon