Paragraph 2: Describe base-rate neglect and provide an example.
The base-rate neglect refers to the phenomenon where people ignore the likelihood of something happening for an item at the expense of it occurring within a population. Example: Only 1 single ticket out of 175 million lottery tickets are a winner and someone purchases one with certainty they are going to win.
Paragraph 3: How does the representative heuristic appear in the conjunction fallacy? The representative heuristic describes the reason people