2.... Incentives are commonly classified asO a) personal or social.b) selfish or altruistic.c) rule based or consequence based.O d) liberal or conservative.O e) direct or indirect.

An incentive is described as something that facilitates a person to do something or perform harder.…

Answered: Incentives are commonly classified as…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Louisiana is busy designing new lottery scratch-off games. In the latest game, Bayou Boondoggle, the player is instructed to scratch off one spot: A, B, or C. A can reveal "Loser," "Win $2," or "Win $15." B can reveal "Loser" or "Take a Second Chance." C can reveal "Loser" or "Win $500." On the second chance, the player is instructed to scratch off D or E. D can reveal "Loser" or "Win $2." E can reveal "Loser" or "Win $15." The probabilities at A are 0.70, 0.19, and 0.11. The probabilities at B are 0.75 and 0.25. The probabilities at C are 0.995 and 0.005. The probabilities at D are 0.6 and 0.4. Finally, the probabilities at E are 0.94 and 0.06. Draw the decision tree that represents this scenario. Use proper symbols and label all branches clearly. Calculate the expected value of this game. Choose the correct decision tree below. OA. O C. B Loser (0.995) Win $2 (0.00) Win $500 (0.005) Loser (0.75) 2 Second Chance (0.25) 0 Loser (0.6) 0 Win $2 E Loser (0.70) 0 0.4) 2 Loser (0.94) Win $2…

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Incentives are commonly classified as a) personal or social. O b) selfish or altruistic. Oc) rule based or consequence based. d) liberal or conservative. e) direct or indirect.