A Group of East Asians and Americans Have Won a Contest

question 49

Multiple Choice

A group of East Asians and Americans have won a contest, and each person is allowed to pick a car from a selection of cars.All the cars are of the same make, model, and year.The only thing that differs between them is that they can be one of two colors.Furthermore, there is an extremely unequal proportion between the two colors, making the minority color very rare.Given this scenario, which of the following statements is true?

• A) East Asians will choose their cars randomly.
• B) Americans will choose cars with the brightest colors.
• C) East Asians will choose minority-colored cars.
• D) Americans will choose minority-colored cars.
• E) East Asians will choose white cars.

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Definitions:

Compound Interest

Compound interest refers to the interest that is computed on both the initial principal amount and the interest that has been accumulated from previous periods for either a deposit or a loan.

Future Value

The value of an investment or payment at a specific future date, considering factors like interest rates or earnings.

Present Value

The current worth of a future sum of money or stream of cash flow given a specified rate of return, often used in the assessment of investment profitability.

Compound Interest

It's the practice of calculating interest by considering not just the starting principal amount but also the interest that has accrued in earlier periods, applicable to deposits and loans.