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​Scatterbrain Samantha Often Forgets to Lock Her House

question 28

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​Scatterbrain Samantha often forgets to lock her house.This has caused the probability of a burglary to be 30%.If her house gets broken into,she faces a property loss of $10,000,otherwise she gets to keep her $100,000.What is her expected wealth?


Definitions:

Co-Culture

A microculture; a distinct culture within a larger culture.

Social Class

A system of dividing society into different levels based on economic, professional, or educational status.

Communication

The act or process of using words, sounds, signs, or behaviors to express or exchange information or to express ideas, thoughts, feelings, etc., to someone else.

Contact Hypothesis

A theory suggesting that under appropriate conditions interpersonal contact is one of the most effective ways to reduce prejudice between majority and minority group members.

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