A Very Agile Seabird Used in Japan to Help Catch

question 83

Multiple Choice

A very agile seabird used in Japan to help catch fish is called:

• A) a stilt.
• B) a albatross.
• C) a cormorant.
• D) a gull.
• E) an oystercatcher.

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Definitions:

Expected Value

The calculated average of all possible values for a random variable, weighted by their respective probabilities.

Risk-loving

A term describing an individual's preference or inclination towards taking risk, often in the pursuit of higher rewards.

Risk-neutral

An attitude towards risk where an individual does not prefer or avoid risk, being indifferent between a certain outcome and a gamble with the same expected value.

Fair Bet

A gamble or bet in which the expected value of the winnings equals the cost of playing, indicating no advantage for the bettor or the house.