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In 1897 a Large Ferris Wheel Was Built in Vienna;

question 16

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In 1897 a large Ferris wheel was built in Vienna; it is still in operation today. Known as The Great Wheel , it has a circumference of 618 feet. If one trip around the circumference of the wheel took 15 minutes, find the average speed of a rider in feet per minute.

Understand the concept of utility and how it relates to income.
Learn the principles of risk assessment in financial decisions.
Identify the characteristics of risk-averse, risk-neutral, and risk-loving behaviors.
Calculate expected utility to make informed decisions in uncertain situations.

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