Find the Expected Value

question 93

Multiple Choice

Find the expected value.
-Suppose you buy 1 ticket for $1 out of a lottery of 1000 tickets where the prize for the one winning ticket is to be $10,000. What is your expected value?

• A)$90.00
• B)$0.90
• C)$9.00
• D)-$0.90

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Definitions:

Self-Perception Theory

A theory that suggests individuals develop their attitudes by observing their own behavior and concluding what attitudes must have caused them.

Cooperative Behaviour

Actions by individuals that are intended to benefit or assist others within a group, contributing to the group's overall success or well-being.

Autobiography

A self-written account of one's life, often detailing personal experiences, achievements, and challenges.

Peripheral Route

A method of persuasion that relies on cues outside of the message content itself, such as the attractiveness or credibility of the source.