« previous next »

Author Question: Which of the following problems can arise when intuition differs from relative frequency? a. Always ... (Read 81 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?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Everyone has one nostril that is larger than the other.

Relative permeability of an artificial phospholipid bilayer to a variety of solutes. Relative permeability of an artificial phospholipid bilayer to a variety of solutes.
How to solve simple percent word problems (Part 1) How to solve simple percent word problems (Part 1)
How to solve rate problems leading to fractional equations (Question 1) How to solve rate problems leading to fractional equations (Question 1)
How to solve word problems with two unknowns (Question 3) How to solve word problems with two unknowns (Question 3)
Computing Limits Problems Computing Limits Problems
Use the answer sheet below the problems for your answer Use the answer sheet below the problems for your answer
Video: Ear Virtual Tour Animation

For a complete list of videos, visit our video library