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11) Sam, an avid day trader, has noticed that a particular stock has increased in value in each of the last three trading days. Given

11) Sam, an avid day trader, has noticed that a particular stock has increased in value in each of the last three trading days. Given this trend, he believes the stock price will increase over the next two trading days. This is an example of:

a. a timing decision.

b. irrational exuberance.

c. representativeness.

d. conservatism.

e. arbitrage.

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