EXCURSIONS IN MODERN MATH. >ANNOT.<
EXCURSIONS IN MODERN MATH. >ANNOT.<
9th Edition
ISBN: 9780134469089
Author: Tannenbaum
Publisher: PEARSON
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Chapter 12, Problem 31E
To determine

(a)

To find:

The points P1, P2, P3 and P4.

To determine

(b)

To find:

The points P1, P2, P3 and P4.

To determine

(c)

To find:

The points P1, P2, P3 and P4.

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Suppose you play a game where you spin a spinner with areas of the colors on the spinner broken down as shown: 10% blue, 60% green, and 30% red. In addition, if the spinner lands on red you win 6 pesos, if it lands on blue you win 1 peso, and if it lands on the green you lose. If you keep spinning, how much would you expect to win or lose per game, if you pay 1 peso to play the game? A. Lose 0.90 peso B. Gain 0.90 peso C. Lose 1.90 pesos D. Gain 1.90 pesos E. None of the above
In this version of the ultimatum game experiment, one participant is given £100, and is told to offer to split that amount with another participant.  The second player can either refuse to accept the division, in which case the participant receiving the £100 has to give it back, or can accept the division, in which case, the player receiving the money splits the £100 as proposed. We can explain how the participant who receives the money, and makes the proposal decides on it by arguing that A) There is a need to appear fair, and that can be done by offering a quarter of the money (£25) to the other participant. B) To avoid the risk of the offer being rejected, the optimal strategy is to offer whatever might be considered normal in such a situation, and this might be around £10. C) Anticipating that the other player is rational, the optimal strategy is to offer the smallest possible amount (£0.01) on the basis that receiving something is better than receiving nothing at all. D)…
Suppose a standard​ six-sided die is rolled and you receive ​$1.00 for every dot showing on the top of the die. What should the cost of playing the game be in order to make it a fair​ game?

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EXCURSIONS IN MODERN MATH. >ANNOT.<

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