Term Coef SECoef T-Value P-Value Constant 10834 9716 1.12 0.274 Wins 235 119 1.98 0.058   S=7,377 R−sq=12.29% AdjR−sq=9.16% (d) If the point representing 64 wins and attendance of 40,786 people per game is removed from the set of data and a new regression analysis is conducted, how would the following be impacted? Explain your reasoning. (i) The slope of the least-squares line: (ii) The correlation coefficient:

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Term Coef SECoef T-Value P-Value
Constant 10834 9716 1.12 0.274
Wins 235 119 1.98 0.058
 
S=7,377 R−sq=12.29% AdjR−sq=9.16%

(d) If the point representing 64 wins and attendance of 40,786 people per game is removed from the set of data and a new regression analysis is conducted, how would the following be impacted? Explain your reasoning.

(i) The slope of the least-squares line:

(ii) The correlation coefficient:

**Title: Understanding Confirmation Bias**

---

**Definition:**

Confirmation bias is the tendency to search for, interpret, and remember information in a way that confirms one's preexisting beliefs or hypotheses. It leads to statistical errors and cognitive biases.

---

**How it Affects Decision Making:**

1. **Selective Search for Evidence:** When people only seek out information that aligns with their current beliefs, ignoring evidence that contradicts them.

2. **Biased Interpretation:** Ambiguous information is interpreted in a way that supports existing beliefs.

3. **Memory Bias:** Recalling information that confirms personal beliefs more readily than information that contradicts them.

---

**Graph Explanation:**

The accompanying graph is a bar chart illustrating the relationship between the exposure to congruent versus incongruent information and individuals' beliefs.

- **X-axis:** Represents two categories of information: Congruent (supports existing beliefs) and Incongruent (contradicts existing beliefs).
  
- **Y-axis:** Represents the likelihood of individuals engaging with each type of information.

The graph highlights that individuals are significantly more likely to engage with congruent information, demonstrating the prevalence of confirmation bias in information processing.

---

**Implications:**

Understanding confirmation bias is crucial for improving decision-making processes in various areas such as:

- **Scientific Research:** Ensuring objectivity by considering all evidence.
- **Healthcare:** Making accurate diagnoses based on comprehensive information.
- **Business:** Making strategic decisions by evaluating diverse perspectives.

Awareness of this bias can foster critical thinking and balanced judgment.

---

**Conclusion:**

Addressing confirmation bias involves recognizing its presence in our perceptions and seeking diverse perspectives. By doing so, we can make more informed and objective decisions.
Transcribed Image Text:**Title: Understanding Confirmation Bias** --- **Definition:** Confirmation bias is the tendency to search for, interpret, and remember information in a way that confirms one's preexisting beliefs or hypotheses. It leads to statistical errors and cognitive biases. --- **How it Affects Decision Making:** 1. **Selective Search for Evidence:** When people only seek out information that aligns with their current beliefs, ignoring evidence that contradicts them. 2. **Biased Interpretation:** Ambiguous information is interpreted in a way that supports existing beliefs. 3. **Memory Bias:** Recalling information that confirms personal beliefs more readily than information that contradicts them. --- **Graph Explanation:** The accompanying graph is a bar chart illustrating the relationship between the exposure to congruent versus incongruent information and individuals' beliefs. - **X-axis:** Represents two categories of information: Congruent (supports existing beliefs) and Incongruent (contradicts existing beliefs). - **Y-axis:** Represents the likelihood of individuals engaging with each type of information. The graph highlights that individuals are significantly more likely to engage with congruent information, demonstrating the prevalence of confirmation bias in information processing. --- **Implications:** Understanding confirmation bias is crucial for improving decision-making processes in various areas such as: - **Scientific Research:** Ensuring objectivity by considering all evidence. - **Healthcare:** Making accurate diagnoses based on comprehensive information. - **Business:** Making strategic decisions by evaluating diverse perspectives. Awareness of this bias can foster critical thinking and balanced judgment. --- **Conclusion:** Addressing confirmation bias involves recognizing its presence in our perceptions and seeking diverse perspectives. By doing so, we can make more informed and objective decisions.
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