Final answer:
Bailey’s statement after it began raining during a camping trip is an example of hindsight bias, where she believes the rain was predictable despite not preparing for it.
Step-by-step explanation:
Bailey’s statement, “I knew we should have packed raincoats!” after it started raining on their camping trip, illustrates a cognitive bias known as hindsight bias. Hindsight bias is the belief that an event that has already occurred was predictable, despite not actually having been predicted. Bailey’s declaration is a classic case of feeling like she knew it was going to rain even though she did not prepare for it, which is a common reaction when reflecting on unexpected events after they happen.