You Are About to Have a Meeting with Your Manager

question 91

Multiple Choice

You are about to have a meeting with your manager about a raise in your salary.You are going to request an increase of $5,000, but you believe the probability of success to be only 0.25.You believe there is a 0.25 probability your boss will counter with a $3,000 raise in your salary, and you believe there is a 0.25 probability that your boss will offer a $1,000 raise in your salary.Finally, there is a 0.25 probability that you will receive no increase in your salary.What is the expected value of the outcome of your meeting?

• A)$2,250
• B)$9,000
• C)$6,750
• D)$3,000

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Definitions:

Doctrine of Strict Liability

A legal principle holding parties responsible for damages or harms caused by their actions, regardless of fault or intention.

Fault

A legal term often used in negligence cases, referring to responsibility or blame for an accident or misdeed.

Injury

A physical or emotional harm caused by an accident, disease, or deliberate act.

Strictly Liable

Being legally responsible for damages or harm caused, regardless of negligence or intent.