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This Concept Map, created with IHMC CmapTools, has information related to: Decision Making Version 1, Familiarity produces a Distortion in frequency estimation, Recency is remembering the Most recent info, Recency produces a Distortion in frequency estimation, Representativeness causes us to ignore Base rates, Rules of thumb include Representativeness, Likelihood ratio is Probability of population A/B, Heuristics are Rules of thumb, Rules of thumb include Anchoring & adjustment, Small-sample fallacy is assuming that Small samples will be representative of the population, Decision Making often involves using Heuristics, Availability is influenced by Recency, Anchoring & adjustment is used when estimating Confidence intervals, Kahneman & Tversky have studies related to Bayes' theorem, Sample size may cause us to commit the Small-sample fallacy, Availability is Estimating frequency based on the availability of info, Heuristics were studied in depth by Kahneman & Tversky, Judging a sample on similarity to the population e.g., Judging outcomes of flipping coins, Heuristics can lead to Errors, Confidence intervals is a Range in which we expect a number to fall a % of the time, Base rates is How often items occur in the population