The law of small numbers refers to:
A) the tendency for events with the same likelihood of occurrence to even out , given enough trials.
B) a tendency to take unnecessary risks without full information.
C) the tendency to overstate the probability of an event when faced with little information.
D) the tendency to ignore events that have a small likelihood of occurrence.
Correct Answer:
Verified
Q51: In understanding the concept of anchoring, which
Q52: Rules of thumb are useful because:
A) they
Q53: Increased uncertainty and lack of understanding of
Q54: In the efficiency wage theory,
A) fairness directly
Q55: When the true probability of an event
Q57: Research has shown that investors in the
Q58: Using a traditional labor market explanation of
Q59: When the ultimatum game is played
Q60: The reason why so many price tags
Q61: In the investor's choice problem, the budget
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents