Eric brews beer for a hobby. He has noticed that whenever he brews an unusually bad batch of beer, his next batch is much better. One explanation for this is that Eric learns from his past mistakes. Another explanation is:
A)status quo bias.
B)regression to the mean.
C)loss aversion.
D)the representative heuristic.

Question

Quizplus · Accepted Answer

Regression to the mean is the phenomenon that unusual events are likely to be followed by more nearly normal ones. So if Eric brews an unusually bad batch of beer, regression to the mean implies that his next batch will be better.

Eric Brews Beer for a Hobby