For Each of the Following Decisions,which Alternative Would You Choose

question 59

Essay

For each of the following decisions,which alternative would you choose?
1)In the final seconds of a game against a traditional rival,the coach of a university football team may choose a play that has a 95 per cent chance of producing a tied score,or one with a 30 per cent chance of victory,but certain defeat if it fails.
2)The president of a major New Zealand company must decide whether to build a new plant within New Zealand that has a 90 per cent chance of producing a modest return on investment,or to build it in a foreign country with an unstable political history.The latter alternative has a 40 per cent chance of failing,but the returns would be enormous if it succeeded.
3)A university student with considerable acting talent must choose a career.She has the opportunity to go on to medical school and become a physician,a career in which she is 80 per cent likely to succeed.She would rather be an actress,but realises that the opportunity is only 20 per cent.

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Definitions:

Stalactite

A conical or cylindrical cave formation that hangs from the ceiling of a cave and is composed mostly of calcium carbonate.

Travertine

A variety of limestone that is commonly concentrically banded and porous.

Karst Topography

A landscape formed from the dissolution of soluble rocks such as limestone, characterized by sinkholes, caves, and underground drainage systems.

Sinkhole

A depression or hole in the ground caused by the collapse of a surface layer, often due to the dissolution of underlying limestone, volcanic activity, or water withdrawal from wells.