Roger's Meat Market is a chain of retail stores that limits its sales to fresh-cut meats. The stores have been very profitable in northern cities. However, when two stores were opened in the south, both lost money and had to be closed. Roger, the owner, has now concluded that no southern-based store should be opened as it would not be profitable. Which one of the following applies to RogerA) Confirmation bias

B) Endowment effect

C) Money illusion

D) Affect heuristic

E) Representativeness heuristic

Question

Dakota Ellison

Business

15 October, 11:25

Roger's Meat Market is a chain of retail stores that limits its sales to fresh-cut meats. The stores have been very profitable in northern cities. However, when two stores were opened in the south, both lost money and had to be closed. Roger, the owner, has now concluded that no southern-based store should be opened as it would not be profitable. Which one of the following applies to RogerA) Confirmation bias

B) Endowment effect

C) Money illusion

D) Affect heuristic

E) Representativeness heuristic

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Answers (1)

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Johnny Mcpherson · Answer 1

E) Representativeness heuristic

Explanation:

According to Roger's idea, we can say that this method applies to representative heresies. This assumption means that the tendency to judge the frequency and the uncertainty is used when making decisions about the likelihood of an event under uncertainty.

so correct option is E) Representativeness heuristic