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Find the utility as well as the ratio of utility.

1. If the payoff from result A is twice the payoff from result B, formerly the ratio of these utilities will be

1) .2 to 1.

2) Less than 2 to 1.

3) More than 2 to 1.

4) Unknown without further information.

2. A decision maker has chosen four as the probability for which he cannot choose between a certain loss of 10,000 and the lottery p(-25000) + (1-p)(5000). If the utility of -25,000 is 0 and of 5000 is 1 then the utility of -10,000 is

1) .5

2) .6

3) .4

4) 4

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M922102

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