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Author Question: Which of the following problems can arise when intuition differs from relative frequency? a. Always ... (Read 36 times)

jhjkgdfhk

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on: Jul 24, 2018
Which of the following problems can arise when intuition differs from relative frequency?
 a. Always thinking that a coincidence has a low chance of occurring.
  b. The gambler's fallacy.
  c. Confusion of the inverse.
  d. All of the above.

Question 2

Suppose a lottery game has a 1/1000 chance of winning for each ticket, and the prize is 1,000 . How much should you be willing to pay for a ticket in order to have a positive expected value?


alexanderhamilton

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Reply #1 on: Jul 24, 2018
Answer to Question 1

D

Answer to Question 2

LESS THAN ONE DOLLAR PER TICKET.

.


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jhjkgdfhk

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Reply #2 on: Jul 24, 2018
TY


alexanderhamilton

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Reply #3 on: Jul 24, 2018
You're welcome


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