Beat: I missed a question on my Economics Final b/c of gambler mindset

[d0nkaments]

I Put b for #1, obv.
But for #2, I put (A) and the answer is c.

Dispute? [img]/images/graemlins/confused.gif[/img] [img]/images/graemlins/confused.gif[/img]

PART I – MULTIPLE CHOICE (2 pts. each, 20*2=40 pts. total)

1) Suppose I offer you the following gamble: I will take a deck of cards, give them to you to shuffle and then turn over the first card. If the card is from a black suit (i.e., a club or a spade), I will give you $10. If the card is from a red suit (i.e., a diamond or a heart), you must pay me $5. This is an example of
a) A fair gamble
b) A better-than-fair gamble
c) A worse-than-fair gamble
d) A gamble that any rational person would take.
e) Both b) and d).

2) Refer to the previous question. Suppose you turn down the gamble I offer you. From this, I can conclude that
a) You are irrational
b) You are risk-loving
c) You are risk-averse
d) You are risk-neutral.

[sebbb]

lol @ $5 being a risk

[d0nkaments]

exactly. WTF?

[starvin-garvin]

If you put (a) for #2, why didn't you pick (e) for #1?

[donkmagic]

how do u put a for 2 if u didnt put d for 1?

[Teh1337zor]

#1 is E

[doubLe a tom]

How is "E" not the answer to #1?

[sebbb]

you kinda missed the first question too, obv answer is e)

[Dan87]

lol this is hilarious, you should dispute it but you know they are just gonna say "some people dont like to gamble doesnt mean they arent irrational"

[VickreyAuction]

[ QUOTE ]
How is "E" not the answer to #1?

[/ QUOTE ]

Bankroll issues/risk of ruin?