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    Exam 11: Behavioral Decision Theory
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    Lois Is Consideriog Buyiog a New Bicycle for $200
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Lois Is Consideriog Buyiog a New Bicycle for $200

Question 58

Question 58

Multiple Choice

Lois is consideriog buyiog a new bicycle for $200.It has a 20% chance of breaking down in the next year.What is the expected value in terms of repair cost for this purchase?


A) $240
B) $400
C) $20
D) $200
E) $40

Correct Answer:

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