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by: Angelica Li

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# PHIL102 Assignment

Angelica Li
UIUC
GPA 4.0

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This 1 page Class Notes was uploaded by Angelica Li on Monday May 9, 2016. The Class Notes belongs to at University of Illinois at Urbana-Champaign taught by in Summer 2015. Since its upload, it has received 4 views.

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Date Created: 05/09/16
Assignment #13 -YUNSHU LI - 11AM Monday, April 25, 2016 9:17 PM Reading: Ch. 6, p. 218-241. Do the following problems: p. 230-31:1 - 6, 8, 11 1. 1/2 2. 1/2 3. (1/2)^3= 1/8 4. The probability of obtaining at least one head in 3 tosses = the probability of not obtaining all tails 1-1/8 = 7/8 5. 1 6. The probability of drawing two aces 4/52 * 3/51 = 0.0045 8. a. 1/2 * 1/2 = 0.25 b. 1/2 * 1/2 = 0.25 11. 1/365 p. 249-52:1,3,7,9,10 1. a. 1/1000 b. EU = (1/1000)*499+ (999/1000)*(-1)=-0.5 c. EU = (1/1000)*499*3+ (999/1000)*(-3)=-1.5 d. EU = (3/1000)*499+ (997/1000)*(-3)=-1.494 3. a. 0.9 b. EU = (50)*1= 50 c. EU = 500*0.4+ (-100)*0.9= 110 d. Maximize expected utility(Decisionunder risk) e. Invest in the stock 7. a. Turn the ticket in -> \$10; enter it in a raffle -> \$1000 b. Decision under risk c. \$0 d. Maximize expected utility, enter it in a raffle 9. a. Decision under risk b. Believe in god c. No. the "life as usual" is not the same for believer and nonbeliever. No. 10. a. 0.8*0.6=0.48 b. EU = -7*0.48=-3.36 c. EU = -2*0.01*0.8=-0.016 d. Yes 11. a. Yes b. EU(getting the prize|gamble) = (5/6)*100000+ (1/6)*(-10000)=81666.6667 c. When we calculate utilities, they should be in the same units d. Possible gains may be much greater than the risks

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