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Which statement is false?
Expected Utility Function
A concept in economics that calculates the anticipated utility or satisfaction a consumer can derive from various options, considering the probabilities of different outcomes.
Sure Payment
A guaranteed financial transaction where the payer is certain to provide the agreed-upon sum to the payee.
Lottery
A form of gambling that involves the drawing of numbers at random for a prize, often analyzed for its economic impact and decision-making under uncertainty.
Probability
A measure of the likelihood that an event will occur, ranging from 0 (impossibility) to 1 (certainty).
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