Terminology

4. step-by-step procedure or formulas for solving problems that guarantee a correct solution
7. organize and interpret information based on paste experiences and knowledge
9. Cognitive bias where individual continue investing time, money, or effort into a project or decision because they have already invested so much, even if the returns are poor or the endeavor no longer aligns with their goals.
10. A mental shortcuts that relies on immediate examples that comes to a person's mind when evaluating a specific topic, concept, method, or decision
12. How information is presented influences decisions and perception
13. cognitive process of fitting new information into existing schemas

1. Mental shortcuts or "rules of thumb" that simplify decision-making by reducing the cognitive burden
2. Cognitive bias that occurs when individual believe that the outcome of a random event is influenced by previous outcomes, even though each event is independent and has no bearing on future results
3. exposure to one stimulus influences the response to a subsequent stimulus, without conscious guidance or intention
5. best example of a category that aids in recognizing and categorizing objects or concepts
6. a cognitive shortcut that individuals make the judgement about probability of an event
8. The cognitive process of modifying existing schemas or creating new ones in response to new information
11. tendency to approach situation in a certain way because of a method from the past, which prevents seeing alternative solutions