The Highest Value for the Equally Likely Criterion Is __________;

question 42

Multiple Choice

The highest value for the equally likely criterion is __________; this occurs with alternative __________. $$~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~{ \text { States of Nature } } \\\begin{array} { | l | c | c | } \hline \text { Alternatives } & \underline { \mathrm { S } } \underline { 1 } & \underline { \mathrm { S } } 2 \\\hline \text { Option 1 } & \$ 10,000 & \$ 30,000 \\\hline \text { Option 2 } & \$ 5,000 & \$ 45,000 \\\hline \text { Option 3 } & \$ - 4,000 & \$ 60,000 \\\hline\end{array}$$

• A) $20,000; Option 1
• B) $25,000; Option 2
• C) $28,000; Option 3
• D) $32,000; Option 3
• E) $60,000; Option 3

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Definitions:

Hedonism

The moral philosophy advocating that the fulfillment of desires or pleasure constitutes the greatest value and ultimate goal of human existence.

Greek Philosopher

An intellectual from ancient Greece who contributed to the foundation of Western philosophical thought.

Hedonism

A doctrine that proposes seeking pleasure and avoiding pain are essential objectives for humans.

Predestination

is the theological doctrine that all events, including human salvation or condemnation, have been willed by God beforehand.