Suppose Chris Is Offered the Following Gamble:  with Probability 0

question 116

Multiple Choice

Suppose Chris is offered the following gamble:  with probability 0.1 he will win $90, with probability 0.4 he will win $50, and with probability 0.5 he will lose $60. The expected value of this gamble is ________. 

• A)-$1
• B)$0
• C)$1
• D)$2

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Definitions:

Brand's Values

The core principles and ethical standards that represent a brand's identity and guide its actions and decision-making processes.

Reinforcement Ads

Advertising designed to reinforce or remind consumers of the brand's value proposition, benefits, or the positive experiences associated with the product or service.

Reminder Ads

Advertisements designed to keep a brand or product in the minds of consumers, reinforcing awareness rather than immediately driving sales.

Correct Choice

The act of making a decision or selection that is deemed most appropriate or beneficial under given circumstances.