A numerical value that can influence people's estimates of a quantity is called
A) an expectancy.
B) a goal.
C) an anchor value.
D) a standard.

Question

Quizplus · Accepted Answer

An anchor value is a numerical value that can influence people's estimates of a quantity. It serves as a reference point for later judgments and decisions. For example, if someone is asked to estimate the price of a car and an anchor value of $20,000 is suggested, their estimate may be influenced by this initial value.

A Numerical Value That Can Influence People's Estimates of a Quantity