Use the Following to Answer Question

question 139

Multiple Choice

Use the following to answer question:
-(Table: Choice with Uncertainty) Use Table: Choice with Uncertainty.Suppose that the probability that the sitcom does not make it to television is 50%,that it makes it to television but is not the most viewed show in its time slot is 30%,and that it makes it to television and is the most viewed show in its time slot is 20%.Given this information,Norman,as a utility maximizer:

• A)should keep his teaching job.
• B)should quit his teaching job and go to Hollywood.
• C)will be indifferent between leaving and staying because his expected income is the same whether he stays a teacher or moves to Hollywood.
• D)will be indifferent between leaving and staying because his expected total utility is the same whether he stays a teacher or moves to Hollywood.

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Definitions:

Symmetric Distribution

A distribution where the left and right sides of the distribution are mirror images of each other.

Median

The middle value of a dataset, which divides the dataset into two halves when the numbers are arranged in ascending order.

1st Quartile

The 1st quartile, also known as the lower quartile, is a statistical measure that divides the lowest 25% of data in a dataset from the highest 75%.

3rd Quartile

The value below which 75% of the data in a dataset falls, marking the upper quartile in a distribution of values.