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10.2 Suppose that a person won the Florida lottery and was offered a choice of two prizes: (1) $500,000 or (2) a coin-toss gamble in
10.2 Suppose that a person won the Florida lottery and was offered a choice of two prizes: (1) $500,000 or (2) a coin-toss gamble in which he or she would get $1 million if a head were flipped and zero for a tail. a. What is the expected dollar return on the gamble? b. Would the person choose the sure $500,000 or the gamble? c. If he or she chooses the sure $500,000, is the person a risk averteror a risk seeker
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