Consider the following game. You roll a six-sided die and each time you roll a 6, you get $30. For all other outcomes you pay $6. The $30 when you "win" and the -$6 when you "lose" are called
A) payoffs.
B) trade-offs.
C) incentives.
D) expected values.

Question

Quizplus · Accepted Answer

The amounts of money you either win or lose in this game are referred to as "payoffs," which are the outcomes associated with different actions or events in decision-making situations, such as games.

Consider the Following Game