Which of the following refers to rules of thumb strategies that shorten decision-making time and allow people to function without constantly stopping to think?
Heuristics are mental shortcuts that can facilitate problem-solving and probability judgments. These strategies are generalizations, or rules-of-thumb, that reduce cognitive load, and can be effective for making immediate judgments. These rule-of-thumb strategies shorten decision-making time and allow people to function without constantly stopping to think about their next course of action. Daniel Kahneman and Amos Tversky identified different kinds of heuristics: availability, representativeness, anchoring and affect.
A bag contains 14 black and 16 white balls. One ball is drawn at random. What is the probability that the ball drawn is white?
...what is the probability that at least one of them narrates an incident truthfully.
A bag contains 9 black and 10 white balls. One ball is drawn at random. What is the probability that the ball drawn is white?
...A speaks truth in 75% of cases And B is 80% of cases. What is the probability that they likely to contradict each other, narrating the same incident.
What is the probability that three S’s come consecutively in the word ‘SUCCESSION’?
A bag contains 30 white and some black balls. If the probability of drawing a black ball from the bag is 1.4 times that of drawing a white ball, find th...
Two cards are drawn together from a pack of 52 cards. The probability that one is a club and one is a diamond?
In an examination, there are three sections namely Reasoning, Math, and English. The reasoning part contains 7 questions. There are 4 questions in the m...
A bag contains 6 black and 8 white balls. One ball is drawn at random. What is the probability that the ball drawn is white?
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