Instruction 4-7
a Lottery Will Have the Following Payoffs Possible

question 35

Short Answer

Instruction 4-7
A lottery will have the following payoffs possible with their associated probabilities.
$$\begin{array} { r c } { \text { Payoff } } & \text { Probability } \\\hline\$ 200 & 0.0500 \\\$ 25.00 & 0.0100 \\\$ 100.00 & 0.0050 \\\$ 500.00 & 0.0010 \\\$ 5,000.00 & 0.0005 \\\$ 10,000.00 & 0.0001\end{array}$$ You buy a single ticket.
-Referring to Instruction 4-7,if you have a winning ticket,the probability that you win at least $100.00 is ________.

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Definitions:

Fundamental Attribution Error

is the tendency to overemphasize personality traits and underestimate situational factors when explaining others' behaviors.

Cognitive Dissonance

A psychological state in which an individual experiences discomfort due to holding conflicting cognitions, such as beliefs, attitudes, or values.

Validity Effect

The tendency of people to believe that a statement is true or valid simply because it has been repeated many times.

Fundamental Attribution Error

The tendency to overemphasize personality traits and underestimate situational factors when explaining other people's behavior.