QUESTION 37 The state lottery offers a 1 in one-million chance to win $1 million; if...

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QUESTION 37 The state lottery offers a 1 in one-million chance to win $1 million; if...

QUESTION 37 The state lottery offers a 1 in one-million chance to win $1 million; if a ticket is $1.50, who would buy a ticket? A)risk-neutral people B)risk-averse people C)risk-loving people D)no one

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Answer 1

Answer #1

= (1/1 million)* 1 million $1 and the price is $1.5 and since the expected winning is less than that of price, risk seeking p

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Answer 2

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QUESTION 37 The state lottery offers a 1 in one-million chance to win $1 million; if...

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