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Martin was trying to sell pumps for circulating water in goldfish ponds when he realized that the reason he was not able to sell many pumps was the weight of the model he was trying to sell.He approached the firm with the idea to replace every possible metal part of the pump with a hard plastic substitute.After working on his feedback,the pumps became lightweight and were able to meet customers' requirements better.As the _____,Martin saw the project from its conception to the development of a lighter pump.
Expected-Utility Maximizer
An economic concept referring to an individual who chooses between uncertain prospects by comparing their expected utilities.
Bet
A wager or gamble where an individual risks a certain amount of money or valuables on the outcome of an uncertain event.
Random Variable
A variable whose possible values are outcomes of a random phenomenon, often used in probability and statistics.
Soft Drink
A non-alcoholic beverage usually carbonated, sweetened, and flavored, including sodas and cola drinks.
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