A Carnival Has a Game of Chance: a Fair Coin

question 92

Multiple Choice

A carnival has a game of chance: a fair coin is tossed. If it lands heads you win $1.00, and if it lands tails you lose $0.50. How much should a ticket to play this game cost if the carnival wants to break even?

• A)$0.25
• B)$0.50
• C)$0.75
• D)$1.00

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Definitions:

Conflict of Interest

A situation where a person's personal interest could potentially interfere with their professional duties or responsibilities, leading to compromised decision-making.

Motivation

Is the set of forces that causes people to behave in certain ways. Individual motivation is also a major determinant of individual performance, but motivation is at the heart of what causes an employee to choose to expend the effort that will support any organizational activity.

Forces

Elements or factors that influence or drive changes within a social, physical, or business environment.

Competitive Advantage

Refers to the unique attributes or qualities an organization has that enable it to outperform its competitors.