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 171 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?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

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.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Many hobbies and leisure activities have some risk of health-related injuries Many hobbies and leisure activities have some risk of health-related injuries
Risk for injury Risk for injury
Evidence for big game hunting by archaic H. sapiens is suggested by the excavations at the Boxgrove Evidence for big game hunting by archaic H. sapiens is suggested by the excavations at the Boxgrove
U.S. Cancer Risk—Racial Diversity U.S. Cancer Risk—Racial Diversity
Risk assessment codes for an HIV-infected patient. Risk assessment codes for an HIV-infected patient.
Vial Washing System - Risk Based Approach Vial Washing System - Risk Based Approach
Video: EpiPen Animation (Part 2)

For a complete list of videos, visit our video library