Consider the following game. You roll a 6-sided die and each time you roll a 1, you get $50. For all other outcomes you pay $10. The $50 when you "win" and the -$10 when you "lose" are known as

A) payoffs.
B) winnings and losings, respectively.
C) incentives.
D) expected values.

Question

Zybrea Knight · Accepted Answer

Final Answer : A, Explanation :  The amounts of money you gain or lose in this game are referred to as payoffs, which is a term used in game theory and economics to describe the outcomes of different strategies or decisions.

Consider the following game. You roll a 6-sided die and each time you roll a 1, you get $50. For all other outcomes you pay $10. The $50 when you "win" and the -$10 when you "lose" are known as

A) payoffs.
B) winnings and losings, respectively.
C) incentives.
D) expected values.

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Learning Objectives

Learning Objectives

Related questions

Consider the following game. You roll a 6-sided die and each time you roll a 1, you get $50. For all other outcomes you pay $10. The $50 when you "win" and the -$10 when you "lose" are known asA) payoffs.B) winnings and losings, respectively.C) incentives.D) expected values.

Definitions

Learning Objectives

Learning Objectives

Related questions

Consider the following game. You roll a 6-sided die and each time you roll a 1, you get $50. For all other outcomes you pay $10. The $50 when you "win" and the -$10 when you "lose" are known as

A) payoffs.
B) winnings and losings, respectively.
C) incentives.
D) expected values.