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 86 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?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

These species are all at risk of extinction. Species with “slow” life-h These species are all at risk of extinction. Species with “slow” life-h
A football game, in 1879, pits Yale against Princeton. The field was not lined or bounded, and play A football game, in 1879, pits Yale against Princeton. The field was not lined or bounded, and play
Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt
The Power and Control Wheels of Abusive Relationships When one person in a relationship repeatedly ... The Power and Control Wheels of Abusive Relationships When one person in a relationship repeatedly ...
Infants often rely on a caregiver as a secure base when they meet a new person. Infants often rely on a caregiver as a secure base when they meet a new person.
Algorithm for assessing a patient at risk for suicide. Algorithm for assessing a patient at risk for suicide.
Video: Pressure Flow Model Animation

For a complete list of videos, visit our video library