Game show host: Conclusion Humans are no better than apes at investing, that is, they do not attain a better return on their investments than apes do. ββ ββββ ββββ βββββ ββββββββ βββ βββ ββββββββββ ββββββ ββββ ββ βββββββ βββββ βββ ββββββ βββ βββββ ββββ ββββββ βββββββββ βββ βββ βββββ ββ βββββ βββ βββ βββββ ββ βββ βββββββ βββ ββββ ββ ββββββ βββββββββ ββ ββββ βββββ
The game show host concludes that humans are no better than apes at investing. She supports this with an experiment in which five stock analysts and one chimpanzee were each given $1,350 to invest. After one month, the chimpanzee increased its net worth by $210, while the top analyst increased by only $140.
There are many flaws with the game show hostβs argument and experiment. First is the cookie-cutter flaw of hasty generalization. She makes a generalization about all people based on a study of five, and about all apes based on a study of one chimpanzee. She also draws a conclusion about investing in general based on one small experiment that involved only short-term investing; she never considers the analystsβ and chimpanzeeβs potential long-term results.
Each of the following describes β ββββ ββ βββ ββββ ββββ ββββββ βββββββββ βββββββ
A conclusion is βββββ βββββ ββββ ββ βββββββ ββ βββ βββββ ββ ββ ββββββββββ βββββββββ βββ βββββββββββ
No evidence is βββββββ ββββ βββββββββββ βββ βββββββ ββ βββββββββββββ βββββ βββββββ βββ ββββββ ββββββββ ββββββββββ ββββββββββ
A broad conclusion ββ βββββ βββββ βββ ββββββββββ ββββββ ββ ββββββ ββ βββ βββββ ββ ββββ ββ βββββ βββββ ββββ βββββββ
Too general a ββββββββββ ββ ββββ βββββ βββββββββ ββ βββ βββββ ββ β ββββββ ββββββββββ βββββββββ ββββββββββ βββββββββ βββ βββ βββββββββ ββββββββββ
No evidence is ββββββββββ βββββ βββ βββββββββ βββββββββββ ββ βββ ββββββββββββ βββββββββ ββββββ ββββ ββ βββ βββββββββ βββββββββββ