Mel Is Thinking of Going on a Cruise

question 39

Multiple Choice

Mel is thinking of going on a cruise.Mel values a cruise in nice weather at $2,000 and values a cruise in bad weather at $50.According to a very reliable source,the probability of nice weather is 60% and the probability of bad weather is 40%.Trip insurance is sometimes available.If purchased,it allows travelers to delay the cruise until the weather is nice.
Mels' friend Flo is risk-averse.Flo's reservation prices for cruises under the different weather conditions are the same as Mel's.Flo will

• A)always buy trip insurance.
• B)never be willing to pay more than $500 for a cruise.
• C)be willing to pay more for trip insurance than Mel.
• D)be willing to pay the same amount for trip insurance than Mel.

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Definitions:

Transition History

A record of the sequence of states or conditions an application or system has passed through over time.

PLC Editing Functions

Features within a PLC programming environment that allow the programmer to make changes, corrections, or updates to the PLC program.

Instructions

Commands or orders given to a computer processor to perform specific operations during the execution of a program.

Temporary End Instruction

A directive in programming that signifies a temporary halt or pause in the execution of a sequence of code.