What type of reasoning is Adam using when he researches venue prices and solicits quotes before setting a price for an event?

When Adam researches venue prices and solicits quotes before setting a price for an event, he is engaging in formal reasoning. Formal reasoning involves using structured methods and established procedures to arrive at conclusions based on relevant data and information. In this context, Adam is systematically gathering information (venue prices and quotes) to make an informed decision about pricing for his event.

This type of reasoning is characterized by critical thinking and reliance on concrete, quantifiable data. Adam carefully analyzes the details he collected to establish a price point, demonstrating a methodical approach rather than relying on anecdotal evidence or personal opinion. By approaching the pricing decision in this structured manner, he is applying formal reasoning principles, which emphasize logical processes and evidence-based decision-making.