The Table Below Provides a Frequency Distribution for the Winner

question 59

Essay

The table below provides a frequency distribution for the winner of the Davis Cup Tennis
Competition during the period 1977-1994. $$\begin{array}{l}\text { Winner of }\\\begin{array} { l c } \text { Davis Cup } & \text { Frequency } \\\hline \text { United States } & 6 \\\text { Germany } & 3 \\\text { Czechoslovakia } & 1 \\\text { Australia } & 3 \\\text { France } & 1 \\\text { Sweden } & 4\end{array}\end{array}$$

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Definitions:

Prospect Theory

A theory in behavioral economics explaining the decision-making process of individuals when faced with alternatives that have uncertain outcomes, with known probabilities of these outcomes.

Behavioral Economics

A field of economic research that studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Policymakers

Individuals or groups responsible for making decisions and laws that govern a society, often within governmental institutions.