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1 The value of insurance Suppose your classmate Roby is faced with the following decision...

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1 The value of insurance Suppose your classmate Roby is faced with the following decision they either receive 6 000 with certainty or a 50 50 chance of receiving 3 000 or 9 000 Suppose Roby prefers the certain 6 000 True or False Based on their preferences Roby is a risk averse person O True O False

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