Question: See image attached 2): Assuming lhat you are a RISK TAKER, Assume that you have a choice between a) $50,000.00 and 3 sets of coin

See image attached

2): Assuming lhat you are a RISK TAKER, Assume that you have a choice between a) $50,000.00 and 3 sets of coin ips of i) 100 attempts (51 "successes\") ii) 1000 attempts (510 "successes") iii) 10,000 attempts (5100 "successes\") A mathematically inclined friend informs you that in each set of coin flips, 51% "heads", the higher value of the 2 options, will give a $50,000 outcome. As a risk taker evaluate each of the 3 options and make a choice between the $50,000 and the set of coin flips. NOTE: use the binomial distribution to assess the probabilities (Stat Trek (see link) is an appropriate website) https:lfstattrekcomfonline-calculatorfbino mial.aspx

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