Question
_________ are mental shortcuts that allows people to
solve problems and make judgments quickly and efficiently.Solution
Heuristics are mental shortcuts that can facilitate problem-solving and probability judgments. These strategies are generalizations, or rules-of-thumb, that reduce cognitive load, and can be effective for making immediate judgments. These rule-of-thumb strategies shorten decision-making time and allow people to function without constantly stopping to think about their next course of action. Daniel Kahneman and Amos Tversky identified different kinds of heuristics: availability, representativeness, anchoring and affect.
The size of the order for which both ordering and carrying cost are at minimum is known as:
Which of the following best describes a risk averse investor?
A factory incurred the following expenditure during the year 2021. Calculate the cost of production from the following data.
An insurance company wants to estimate the average claim amount for motor insurance policies. They take multiple random samples of 50 claims each from ...
Calculate the Proprietary ratio of the company, from the above information.
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The cont ributions towards NPS Vatsalya have tax benefit for up to ______ per financial year .
Which of the following about SECC is/are True?
I- SECC first happened in 2011.
II- �...
Consider the following statement about Equity Linked Savings Scheme?
I. It is a type o...
In a survey process, when the respondents were asked about consumptions of some low-frequency items over the previous year and all other items over prev...
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