Marvin's Utility Function Is Given by U(W)= 10 - 3/(1

question 6

Multiple Choice

Marvin's utility function is given by U(W) = 10 - 3/(1 + W) and his initial wealth is zero. What is his expected utility from playing a game where he wins $2 on a coin toss if a head appears and nothing if a tail appears?

• A)4.5
• B)7.0
• C)3.5
• D)8.0

---

Definitions:

Carl Rogers

An influential American psychologist who founded the humanistic approach to psychology and emphasized the importance of the self and unconditional positive regard.

Behavior Therapy

A type of psychotherapy that focuses on changing undesirable behaviors through stimulus-response conditioning techniques.

Cognitive Therapy

A form of psychotherapy that focuses on changing negative thoughts and beliefs to improve emotional well-being and behavior.

Rational-Emotive Therapists

Professionals who apply Rational Emotive Behavior Therapy (REBT), focusing on identifying irrational beliefs, challenging these beliefs, and encouraging rational thinking to promote emotional well-being.