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2. Based on Chapter 8 # 15 Chris prefers a sled to a harmonica and specifies the following equivalence relations: Sled Sled 0.7 0.3 0.2
2. Based on Chapter 8 # 15 Chris prefers a sled to a harmonica and specifies the following equivalence relations: Sled Sled 0.7 0.3 0.2 0.8 Book Sweater Harmonica Sled 0.85 Ball 0.15_Harmonica a. What is Chris' preference ordering for the sled, the harmonica, the book, the sweater, and the ball? b. What is Chris' preference probability (the arobability of a sled versus a harmonica in a hypothetical deal) that is equivalent to the following deal? Book 0.75 0.6 0.1 Ball Sled Ball Book 0.3 c. Does Chris prefer a book or the following deal? (Hint: First, express this deal as a probability of a sled versus a harmonica.) 0.2 Ball 0.8 Book 0.3 0.3 Sweater Sled 2. Based on Chapter 8 # 15 Chris prefers a sled to a harmonica and specifies the following equivalence relations: Sled Sled 0.7 0.3 0.2 0.8 Book Sweater Harmonica Sled 0.85 Ball 0.15_Harmonica a. What is Chris' preference ordering for the sled, the harmonica, the book, the sweater, and the ball? b. What is Chris' preference probability (the arobability of a sled versus a harmonica in a hypothetical deal) that is equivalent to the following deal? Book 0.75 0.6 0.1 Ball Sled Ball Book 0.3 c. Does Chris prefer a book or the following deal? (Hint: First, express this deal as a probability of a sled versus a harmonica.) 0.2 Ball 0.8 Book 0.3 0.3 Sweater Sled
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