Problem 1
Subjects are allowed to buy tickets in a lottery. One group is told that they have a 55 percent chance of winning, the other group is told that they have a 45 percent chance of not winning. Which group is more likely to buy lottery tickets? What is the name for this effect?
Problem 4
What is the probability that a fair coin will come up heads three times in a row when tossed?
Problem 5
John decides that he will save \(\$ 5\) this week and \(\$ 10\) next week. But when next week arrives, he decides to save only \(\$ 8 .\) What is the term used to describe this sort of inconsistent behavior?
