Final answer:
The Ebbinghaus forgetting curve states that an average person forgets 50% of memorized information after 20 minutes and 70% after 24 hours.
Step-by-step explanation:
The Ebbinghaus forgetting curve is a well-known concept in psychology that explains how memory for new information decays over time. According to Ebbinghaus' research, an average person tends to forget 50% of the memorized information after 20 minutes and 70% after 24 hours. This phenomenon is called storage decay, where unused information gradually fades away. It is important to note that these percentages are averages, and individual differences may occur.