This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a person willingly plays an unfair game that is not in his favor, he is risk loving. Indicate ... (Read 152 times)

Charlie

  • Hero Member
  • *****
  • Posts: 640
on: Jul 1, 2018
If a person willingly plays an unfair game that is not in his favor, he is risk loving.
 
  Indicate whether the statement is true or false

Question 2

A fair game is a game in which the chances are 50-50 that you win or lose.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

otokexnaru

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jul 1, 2018
Answer to Question 1

False. While that could be the reason, there are others. Either the person likes gambling for entertainment reasons, or the person does not understand the probabilities associated with each payout.

Answer to Question 2

False. A fair game is one in which the expected value of the payoff to the player is equal to the cost of playing.


Charlie

  • Hero Member
  • *****
  • Posts: 640
Reply #2 on: Jul 1, 2018
Thank you


otokexnaru

  • Sr. Member
  • ****
  • Posts: 314
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Diabetes mellitus. The metabolic disease diabetes mellitus, with symptoms of polydipsia, polyuria, a Diabetes mellitus. The metabolic disease diabetes mellitus, with symptoms of polydipsia, polyuria, a
Risk factors for falls Risk factors for falls
Assessing risk for infection in adults Assessing risk for infection in adults
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
A person with a defective "P" gene might only have it effect the Hair A person with a defective "P" gene might only have it effect the Hair
Vitamin K plays a major role in blood coagulation, or clotting Vitamin K plays a major role in blood coagulation, or clotting
Video: Cavernous Sinus Larynx Middle Ear Orbit: Granulesm Animation

For a complete list of videos, visit our video library