« previous next »

Author Question: Which of the following problems can arise when intuition differs from relative frequency? a. Always ... (Read 82 times)

jhjkgdfhk

  • Hero Member
  • *****
  • Posts: 569
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

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 24, 2018
Answer to Question 1

D

Answer to Question 2

LESS THAN ONE DOLLAR PER TICKET.

.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

jhjkgdfhk

  • Hero Member
  • *****
  • Posts: 569
Reply #2 on: Jul 24, 2018
TY


alexanderhamilton

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jul 24, 2018
You're welcome


« previous next »
 

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Relative energies of covalent bonds and noncovalent interactions Relative energies of covalent bonds and noncovalent interactions
Stratigraphic section of the Fayum shows the relative age of early anthropoid fossils. Stratigraphic section of the Fayum shows the relative age of early anthropoid fossils.
Distance from Initial Change in Membrane Potential vs. Voltage Change Relative to Initial Change Distance from Initial Change in Membrane Potential vs. Voltage Change Relative to Initial Change
How to solve application problems containing quadratics (Question 3) How to solve application problems containing quadratics (Question 3)
Pregolife problems Pregolife problems
Relative changes in distribution of sleep stages over the lifespan Relative changes in distribution of sleep stages over the lifespan
Video: Erythropoietin (EPO)

For a complete list of videos, visit our video library