You are asked to rate how likely it is that a student, Steve, will pass an upcoming exam. You are told that, in the past, the "pass" rate for this exam is 30%. Which of the following statements about your rating is most likely to be true? You will

Question

Quizplus · Accepted Answer

The fact that the "pass" rate for the exam is 30% is important information and should be taken into account when making a prediction about Steve's likelihood of passing. Therefore, using base rates in one's decision would be the most appropriate approach.

You Are Asked to Rate How Likely It Is That