The Host of a TV Show Offers You a Chance

question 23

Multiple Choice

The host of a TV show offers you a chance to pick one of four boxes. Three are empty, one contains $1 000. If you pick an empty box, you can pay $250 for a second pick from the remaining three boxes. If you pick another empty box, you can pay $500 for a third pick from the two remaining boxes. If you pick wrong a third time, you are out of the game. What is your expected gain (or loss) from playing this game?

• A)$250
• B)$310
• C)$330
• D)$350
• E)$500

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Definitions:

Authority or Knowledge

The power or right to give orders, make decisions, and enforce obedience, or the possession of expertise and information in a particular area.

Key Behaviors

Essential actions or patterns of action that contribute to the achievement of desired outcomes.

Effective Goal-Setting

The process of identifying specific, measurable, achievable, relevant, and time-bound (SMART) objectives that guide individuals or organizations towards achievement.

Perceptions

The way in which something is regarded, understood, or interpreted.