You Are Given the Following Gamble: Behind One Door Is

question 9

Multiple Choice

You are given the following gamble: behind one door is $500; behind another is $100; behind another is $0. What is the expected value of the gamble?

• A)$600
• B)$200
• C)$300
• D)We need more information in order to answer

---

Definitions:

No Demand

A market situation where there is no consumer desire or interest in purchasing a specific product or service.

Inconsistency

The state of being inconsistent; lack of uniformity or steadiness in actions, values, or outcomes.

Training

The process of teaching or developing in oneself or others, any skills and knowledge that relate to specific useful competencies.

Wedding Preparation Service

A business that offers planning and coordinating services for weddings, including venue selection, catering, and decorations.