In Using the Expected Value Criterion Suppose That There Are

question 67

Multiple Choice

In using the expected value criterion suppose that there are three possible outcomes (states of nature) .If the probability of outcome1 is 0.4 and the probability of outcome 2 is 0.5,then what is the probability of outcome 3?

• A)P(outcome 3)= 0.1
• B)P(outcome 3)cannot be determined
• C)P(outcome 3)= 1.0
• D)P(outcome 3)< 0

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Definitions:

Failure

The lack of success in achieving one's goals or the inability to meet a certain standard.

Negative Life Pressures

Psychological or environmental stressors that negatively impact an individual's mental and physical well-being.

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from traumatic events or persistent failure to succeed.

Seligman's Theory

Pertains to the theory of learned helplessness initially and later the development of positive psychology, emphasizing strengths, well-being, and the factors that contribute to a fulfilling life.