Repeat Problem 53, except change the stakes to \(\$ 110\) and \(\$ 100\), respectively.

Data from problem 53

Suppose you are in class and your instructor makes you the following legitimate offer. Each student receives a ballot with the following two choices, without communicating with each other:

If everyone checks the first box, then all will receive \(\$ 1,000\). If anyone checks the second box, then only those who check the second box will receive \(\$ 100\). Which box would you check, and why? Answers for Problems 53-56 vary, but you will interesting if you do them with your class

Transcribed Image Text:

I share the wealth and will receive $1,000 if everyone in the class checks this box. I will not share the wealth and want a certain $100.