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You have one ticket for a raffle with a grand prize of $1,000. There are two prizes worth $100 and five prizes worth $20. If only 100 tickets have been distributed, what is the expected value of your winnings?
Act Utilitarianism
A philosophical theory that posits the morality of an action is determined by its contribution to overall happiness, with each situation judged individually.
Deontology
An ethical theory based on the belief that actions are morally required, permitted, or forbidden based on a set of rules.
Virtue Ethics
A philosophical approach that emphasizes the role of character and virtue in moral philosophy rather than either the consequences of actions or the rules governing them.
Business Ethics
moral principles and standards that guide behavior in the world of commerce, influencing company policies and practices.
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