Question

Which of the following statements about biased decision making is true?
a. Hindsight helps you correctly assess what you should have known beforehand.
b. When you are making a decision and you have considerable experience in that area, you are then most likely to be overconfident.
c. When confronted with a choice, people with strong prior beliefs tend to make their decisions based on their beliefs even if their beliefs are false.
d. Sometimes a single event can allow you to determine the trend.
e. You could confidently make a decision about something by asking 20 of your friends and deciding based on their preferences.

Answer 1

Answer:

c. When confronted with a choice, people with strong prior beliefs tend to make their decisions based on their beliefs even if their beliefs are false.

Explanation:

Biased decision is the one which is made, with own understanding or the decisions made for own's comfort, or within own's comfort.

This decision is made after knowing all the facts, but then choosing to act in the favor of the choice beneficial for the one.

This is made on the knowledge basis of prior understanding, this does not value all the facts, even though the facts are known.

Accordingly correct answer is:

Statement C