You Have Been Arrested and Charged with Assault and Have

question 70

Multiple Choice

You have been arrested and charged with assault and have your choice of four lawyers,each of whom has a different style of presenting a case.Based on research findings by Nancy Pennington and Reid Hastie (1988) ,which lawyer would you choose to represent you?

• A) Mark, who calls witnesses in the order that best presents the story that he wants to tell
• B) Gene, who starts off slowly and reaches a climax with his best witnesses
• C) Ellen, who calls witnesses in order based on their astrological sign
• D) Alex, who opens his trials dramatically by calling his best witnesses first
• E) Beatrice, who calls witnesses in no particular order

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Definitions:

Volatility

A statistical measure of the dispersion of returns for a given security or market index.

Delta

A measure in options trading that indicates how the price of an option is expected to change relative to a one-unit change in the price of the underlying asset.

Put Option

A financial contract that gives the holder the right, but not the obligation, to sell a specified amount of an underlying asset at a predetermined price within a fixed period of time.

Binomial OPM

A mathematical model used to price options, considering multiple potential outcomes and the time value of money.