Don't Cheat. Part II.
Here's Part II of the quiz from yesterday (see Don't Cheat. Part I.). Complete Part I first, if you haven't. Don't read the comment sections of either "Don't Cheat" posting until you yourself have posted or recorded your answers. Here are the instructions for this final section. You have no time limit. You do not need any aids except your mind in order to answer the following questions. Ready. GO!
1. Would you rather have (a) $3400 today or (b) $3800 next month?
2. (a) $100 now or (b) $140 next year?
3. Would you prefer (a) $500 for sure or (b) a 15% chance of winning $1,000,000 and an 85% of getting nothing?
4. (a) $100 for sure or (b) 75% of winning $200?
5. (a) a definite loss of $100 or (b) 75% chance of losing $200
DONE!
Record your answers. Post 'em or email 'em (aemascia@hotmail.com). Answers and explanations posted tomorrow. I can't wait to do the number crunching on this group. Maybe the local blog statistician will lend a hand. Don't make me go all p-value and chi-squared on you!
Quiz/study taken from:
Shane Frederick, PhD
Assistant Professor
Massachusetts Institute of Technology
posted by Anthony @ 8:35 PM
9 comments
9 Comments:
1. b
2. a
3. a
4. b
5. a
Not much of a gambler.
Oh, this one is weird.
1. b. I'll wait the two weeks for the extra $400.
2. b. A 40% annual return is great, but I'm conflicted about this anyway. A whole year? Man...
3. b. bigmoneybigmoneybigmoneySTOP!
4. No idea. Truly. What the hell, b.
5. a. It occurs to me that there should be a poor person's version of this test where all numbers are divided by 10. I don't think I could afford to lose $100 right now, much less $200. ENOUGH OF YOUR TESTS!!! JUST TELL ME HOW SCREWED UP I AM AND BE DONE WITH IT!!! AAAAhh...why do you torment me...
ack. My illogic as regards money is about to be revealed. I'll drive 20 minutes to buy yogurt that is $1.50 cheaper, but pay $2 for the privilege of getting my own money out of an ATM without a second thought.
1) b
2) b
3) a
4) a
5) a
Don't you have any questions that don't lead me to ponder the sad state of my checking account?
1. b
2. b
3. b
4. b
5. a
What does it all mean, Anthony! Prey tell!
1. b
2. b
3. b
4. b
5. a
please, NO!!! not again. why must i always answer what bird gets?
because you are very smart! ;)
okeydokey. I tried to be all smart and do some math, but I'm not sure, really.
I answered all a's, except if it means that by saying I'd rather lose $100 I now owe someone something . . .
1. B I can wait a month
2. A ...but not a year!
3. B what the hell-- those student loans aren't gonna pay themselves off
4. B I'm liking this free money thing, no matter how you slice it
5. A ouch! Mike's right. This one's too hard for the financially strapped...
Let's go Ant-- read my soul!
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