An estimation technique that begins with an initial approximation, which is then modified in accordance with additional information, is known as:
A)status quo bias.
B)regression to the mean.
C)anchoring and adjustment.
D)the representative heuristic.

Question

Quizplus · Accepted Answer

Anchoring and adjustment is an estimation technique that begins with an initial approximation (the anchor), which is then modified in accordance with additional available information (the adjustment).

An Estimation Technique That Begins with an Initial Approximation, Which