What kind of decision is Sandi currently faced with? What kind of information should she consider? LO2 What are the risks that may lead to a poor choice? What do you think she will do?

theatre, you realize you’ve lost your ticket. You can’t remember the seat number, so you can’t prove to the management that you bought a ticket. Would you spend $40 for a new ticket?

b. You’ve reserved a seat for a play, for which the ticket price is $40. As you enter the theatre to buy your ticket, you discover you’ve lost $40 from your pocket.
Would you still buy the ticket? (Assume you have enough cash left to do so.)
F. Imagine you have operable lung cancer and have to choose between two treatments:
surgery and radiation. Of 100 people having surgery, 10 die during the operation, 32 (including those original 10) are dead after 1 year, and 66 are dead after 5 years. Of 100 people having radiation therapy, none dies during treatment, 23 are dead after one year, and 78 after 5 years. Which treatment would you prefer?