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johnsmith12 johnsmith12
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2 years ago
Wilson is watching two different roulette-type games at a local charity bazaar. Each game costs $1 to play. In one game, there are ten different numbers, and if the number he selects comes up, he will win $12. In the other game, there are 100 different numbers, but if the number he selects comes up, he will win $50. What should Wilson do based on expected value theory?


Play the first game because it has a higher expected value.

Play either one of the games because they both have the same expected value.

Play the second game because it has a higher expected value.

Not play either game because they both have such low odds of winning.
Textbook 

Psychology: Themes and Variations


Edition: 5th
Authors:
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leegerryan1234leegerryan1234
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2 years ago
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More solutions for this book are available here
Play the first game because it has a higher expected value.

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johnsmith12 Author
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2 years ago
Thanks for your help!!
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Yesterday
You make an excellent tutor!
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2 hours ago
This helped my grade so much Perfect
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