3. Consider the following game:
1. you win 40 Naira if you don’t play.
2. you win 120 Naira if coin land on heads / you win nothing if tails.
3. you win 200 Naira if coin lands on heads / you lose 40 Naira on tails
- 3a. What would you choose if you play the game once
Win 40 naira if you donâ€tt play
Win 120 heads / win nothing tails
Win 200 heads / lose 40 tails
Warning: these figures indicate the number of cases found in the data file. They cannot be interpreted as summary statistics of the population of interest.