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Question 4: 4 points For each of the following subjective probability statements identify the error or bias and discuss its possible causes. Note -
Question 4: 4 points For each of the following subjective probability statements identify the error or bias and discuss its possible causes. Note - there is one, possibly two correct answers for each statement. Do not list all the biases you can think of. State the bias for each example provided below. Explain (in one or two sentences) why the bias you selected applies in this particular case. a) A student who is going to write a research paper may primarily search for information that would confirm his or her beliefs. The student may fail to search for or fully consider information that is inconsistent with his or her beliefs. b) "On Sale, 4 Rolls of Bathroom Tissue for $2 vs. On Sale, $0.50/roll" In this particular experiment, the multiple unit pricing performed 40% better than the single unit pricing, even though the sale value is exactly the same
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