CHILD DEVELOPMENT PEDAGOGY

Detailed explanation-1: -Heuristics are approximate strategies or ‘rules of thumb’ for decision making and problem solving that do not guarantee a correct solution but that typically yield a reasonable solution or bring one closer to hand.

Detailed explanation-2: -Heuristics are methods or strategies which often lead to problem solution but are not guaranteed to succeed.

Detailed explanation-3: -Heuristics are mental shortcuts for solving problems in a quick way that delivers a result that is sufficient enough to be useful given time constraints. Investors and financial professionals use a heuristic approach to speed up analysis and investment decisions.

Detailed explanation-4: -Unlike algorithms, heuristics do not always guarantee a correct solution. However, using this problem-solving strategy does allow people to simplify complex problems and reduce the total number of possible solutions to a more manageable set. This is a step-by-step procedure that will always produce a correct solution.

Detailed explanation-5: -The three heuristics that received most attention were availability, representativeness, and anchoring and adjustment. The availability heuristic refers to the tendency to assess the probability of an event based on the ease with which instances of that event come to mind.