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1、TESTBANKCHAPTER5SIXTHEDITIONUNCERTAINTYANDCONSUMERBEHAVIORMULTIPLECHOICESECTION5.1Scenario1:AlineandSarahdecidetogointobusinesstogetheraseconomicconsultants.Alinebelievestheyhavea50-50chanceofearning$200,000ayear,andthatiftheydon't,they'llearn$0.Sarahbelievestheyhavea75%c
2、hanceofearning$100,000anda25%chanceofearning$10,000.easy1.RefertoScenario1.Theexpectedvalueoftheundertaking,a.accordingtoSarah,is$75,000.b.accordingtoSarah,is$100,000.c.accordingtoSarah,is$110,000.d.accordingtoAline,is$200,000.e.accordingtoAline,is$100,000.easy2.RefertoSc
3、enario1.Theprobabilitiesdiscussedintheinformationabovearea.objectivebecausetheyaresinglenumbersratherthanranges.b.objectivebecausetheyhavebeenexplicitlyarticulatedbytheindividualsinvolved.c.objectivebecausetheeventhasn'thappenedyet.d.subjectivebecausetheeventhasn'thappene
4、dyet.e.subjectivebecausetheyareestimatesmadebyindividualsbaseduponpersonaljudgmentorexperience.Scenario2:RandyandSamanthaareshoppingfornewcars(oneeach).Randyexpectstopay$15,000with1/5probabilityand$20,000with4/5probability.Samanthaexpectstopay$12,000with1/4probabilityand$
5、20,000with3/4probability.easy3.RefertoScenario2.Whichofthefollowingistrue?a.RandyhasahigherexpectedexpensethanSamanthaforthecar.b.RandyhasalowerexpectedexpensethanSamanthaforthecar.c.RandyandSamanthahavethesameexpectedexpenseforthecar,anditissomewhatlessthan$20,000.d.Rand
6、yandSamanthahavethesameexpectedexpenseforthecar:$20,000.e.Itisnotpossibletocalculatetheexpectedexpenseforthecaruntilthetrueprobabilitiesareknown.easy4.RefertoScenario2.Randy'sexpectedexpenseforhiscarisa.$20,000.b.$19,000.c.$18,000.d.$17,500.e.$15,000.191TESTBANKCHAPTER5SI
7、XTHEDITIONUNCERTAINTYANDCONSUMERBEHAVIOReasy5.RefertoScenario2.Samantha'sexpectedexpenseforhercarisa.$20,000.b.$19,000.c.$18,000.d.$17,500.e.$15,000.ConsiderthefollowinginformationaboutjobopportunitiesfornewcollegegraduatesinMegalopolis:Table5.1MajorProbabilityofReceiving
8、anOfferInOneYearAverageSalaryOfferAccounting95$25,000Economics.90$30,000English.70$24,000PoliSci
