Use the Following to Answer Questions

question 71

Multiple Choice

Use the following to answer questions:
-(Table: Choice with Uncertainty) Look at the table Choice with Uncertainty. Suppose the probability that the sitcom does not make it to television is 30%, that it makes it to television but is not the most viewed show in its time slot is 50%, and that it makes it to television and is the most viewed show in its time slot is 20%. Given this information, Norman's expected total utility is _____ utils.

• A) 2,000
• B) 2,150
• C) 2,350
• D) 2,650

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Definitions:

Trade Libel

A business tort that occurs when false printed statements criticize a business product or service and result in a loss of sales.

Slander of Title

A false statement that disparages or questions someone's legal ownership of property, causing financial loss.

Material Fact

Any fact that could influence a party's decision to enter into a contract or transaction; important information that should not be misrepresented or withheld.

Legal Duty

An obligation recognized by law, requiring an individual or entity to conform to a certain standard of conduct for the protection of others.