Unit 7 - Module 35

Question 1

Algorithm

Answer 1

methodical, logical procedure that guarantees solving a problem

Question 2

Heuristic

Answer 2

simple thinking strategy that allows for judgements and efficient solutions; more error prone

Question 3

Insight

Answer 3

sudden realization of a solution

Question 4

Confirmation Bias

Answer 4

tendency to search for information to support our views and ignore contradictory evidence

Question 5

Fixation

Answer 5

inability to see problem from a new perspective

Question 6

Mental Set

Answer 6

tendency to approach problems in a way that has been successful in the past

Question 7

Intuition

Answer 7

effortless, immediate, automatic feelings or thoughts

Question 8

Representativeness Heuristic

Answer 8

judging likelihood of things in terms of how well the represent prototypes; can lead to ignoring relevant information

Question 9

Availability Heuristic

Answer 9

estimating likelihood of events based on availability in memory

Question 10

Overconfidence

Answer 10

tendency to be more confident than correct; overestimate accuracy of beliefs or judgements

Question 11

Belief Perseverance

Answer 11

clinging to initial conceptions after basis on which they were formed is discredited

Question 12

Belief Bias

Answer 12

tendency for one’s preexisting beliefs to distort logical reasoning

Question 13

Framing

Answer 13

the way an issue is posed

Question 14

Functional Fixedness

Answer 14

tendency to avoid using familiar objects in an unfamiliar way

Question 15

Loss Aversion

Answer 15

losses are seen as disproportionately more serious than gains of the same magnitude

Question 16

Rare Possibilities

Answer 16

overestimated

Question 17

Frequent Possibilities

Answer 17

underestimated

Question 18

Gambler’s Fallacy

Answer 18

events in a random process with even out (I’ve lost a lot recently, I should win soon)

Question 22

Regression to the Mean

Answer 22

a variable that is extreme on its first measurement, will be closer to average on the next

Question 23

Anchoring Heuristic

Answer 23

estimation a decision, not from a neutral starting point, but from an earlier starting point