Consider the Following Scenario When Answering the Following Questions

question 105

Multiple Choice

Consider the following scenario when answering the following questions:
Imagine a game show on television where one lucky contestant is presented with four upside-down buckets that are numbered 1,2,3,and 4.Under one of the buckets is exactly one $100 bill.Under each of the other three buckets is exactly one $5 bill.After the game ends,the contestant will receive the amount of money that is under his or her bucket.
The host of the game show asks the contestant to choose one of the four buckets.After the contestant makes a choice,the host lifts up two of the remaining three buckets to reveal a $5 bill under each of them.At this point,only two buckets remain uncovered: the bucket that the contestant originally chose and the bucket that was not uncovered by the host.
The host subsequently asks the contestant if he or she would like to keep the original bucket or change buckets to the only other bucket remaining.
-If the contestant changes buckets from the original bucket to one of the other buckets remaining,the expected value of the game rises from

• A) $10.00 to $32.50.
• B) $32.50 to $43.75.
• C) $43.75 to $66.25.
• D) $66.25 to $67.50.
• E) $100.00 to $167.50.

---

Definitions:

Frames

Conceptual structures used in communication to help individuals organize their perceptions and understandings of a situation.

Legal Power

The authority vested by law in an entity or individual to make decisions, enforce rules, or control resources.

Mediator

An impartial individual who facilitates communication and negotiation between disputing parties to help them reach a voluntary agreement.

Two-Party Negotiation

A process where two parties discuss their differences and attempt to reach an agreement or solution.