Ask Question
15 April, 03:18

The florida lottery has done extensive research on the individuals who purchase their products. they have determined that their customers have a square root utility function and an initial wealth of $100. it costs $19 to purchase a lottery ticket and each ticket has a 50/50 chance of being worth $39. true or false, customers will purchase these lottery tickets.

+2
Answers (1)
  1. 15 April, 03:32
    0
    Risk is the potential of gaining or losing something of value. Values (such as physical health, social status, emotional well-being or financial wealth) can be gained or lost when taking risk resulting from a given action or inaction, foreseen or unforeseen. Risk can also be defined as the intentional interaction with uncertainty. Uncertainty is a potential, unpredictable, and uncontrollable outcome; risk is a consequence of action taken in spite of uncertainty.

    Risk perception is the subjective judgment people make about the severity and probability of a risk, and may vary person to person. Any human endeavor carries some risk, but some are much riskier than others.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The florida lottery has done extensive research on the individuals who purchase their products. they have determined that their customers ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers