D Consider the following lottery scenarios. Which of these is an example of the Allais Paradox, a well-known deviation from expected utility theory? O a. Lottery P offers a 1% chance of winning $10,000 and a 99% chance of winning nothing, while Lottery Q offers a 50% chance of winning $200 and a 50% chance of winning nothing. Even though the expected value of Lottery P is greater, most people choose Lottery Q because they overweight the low probability event in P. O b. Lottery M offers a 90% chance of winning $5,000,000 and a 10% chance of winning nothing, while Lottery N offers a 10% chance of winning $50,000,000 and a 90% chance of winning nothing. Despite Lottery N having a higher expected value, a majority of people choose Lottery M. O c. Lottery X offers a 50% chance of winning $1,000 and a 50% chance of winning nothing, while Lottery Y offers a guaranteed win of $450. Despite the higher expected value of Lottery X ($500 vs $450), a majority of people choose Lottery Y. O d. Lottery G offers a 100% chance of losing $10, while Lottery H offers a 60% chance of losing $20 and a 40% chance of losing nothing. Despite the higher expected loss in Lottery H, people choose it more often because they hope to avoid loss entirely. In Python Programming Language, what are functions? O a. Procedures that allow you to group together a number of statements and name the group for future use O b. Fundamental pieces of code that interact with each other to achieve a larger goal O c. Packages of auxiliary code

Consider the following lottery scenarios. Which of these is an example of the Allais Paradox, a well-known deviation from expected utility theory? a. Lottery P offers a 1% chance of winning $10,000 and a 99% chance of winning nothing, while Lottery Q offers a 50% chance of winning $200 and a 50% chance of winning nothing. Even though the expected value of Lottery P is greater, most people choose Lottery Q because they overweight the low probability event in P. b. Lottery M offers a 90% chance of winning $5,000,000 and a 10% chance of winning nothing, while Lottery N offers a 10% chance of winning $50,000,000 and a 90% chance of winning nothing. Despite Lottery N having a higher expected value, a majority of people choose Lottery M. c. Lottery X offers a 50% chance of winning $1,000 and a 50% chance of winning nothing, while Lottery Y offers a guaranteed win of $450. Despite the higher expected value of Lottery X($500 vs $450), a majority of people choose Lottery Y. d. Lottery G offers a 100% chance of losing $10, while Lottery H offers a 60% chance of losing $20 and a 40% chance of losing nothing. Despite the higher expected loss in Lottery H, people choose it more often because they hope to avoid loss entirely. In Python Programming Language, what are functions? a. Procedures that allow you to group together a number of statements and name the group for future use b. Fundamental pieces of code that interact with each other to achieve a larger goal c. Packages of auxiliary code