Consider the Following Scenario When Answering the Following Questions

question 16

Multiple Choice

Consider the following scenario when answering the following questions:
Suppose that in an experimental setting,100 students are asked to choose between Gamble A and Gamble B,where:
Gamble A: The student will receive $50 with a 70 percent probability and $100 with a 30 percent probability.
Gamble B: The student will receive $50 with a 50 percent probability,$200 with a 25 percent probability,and $0 (nothing) with a 25 percent probability.
-Which of the following shows the correct formula for the expected value (EV) of Gamble A?

• A) EV = 0.7 * ($50)+ 0.3 * ($100)
• B) EV = 0.5 *($50)+ 0.3 * ($100)
• C) EV = 0.7 * ($50)+ 0.5 * ($100)
• D) EV = 0.5 *($50)+ 0.5 *($100)
• E) EV = 0.1 *($50)+ 0.2 * ($100)

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Definitions:

Psychodynamic

A psychological perspective that emphasizes unconscious psychological processes and contends that childhood experiences significantly influence adult personality.

Behavioural Theories

Theories that focus on explaining human behavior through observation and learning, rather than internal psychological processes.

Traffic Regulations

Laws and rules designed to govern the movement of vehicles and pedestrians, ensuring safety and order on the road.

Driving

The controlled operation and movement of a motor vehicle, including cars, motorcycles, trucks, and buses, on a roadway.