At a carnival roulette wheel, a player can either win $10, $30, or $80 . If it costs $35 to play, we would expect to see

The probability of an event is the:

A) time taken for the event to occur. B) frequency at which the event occurs. C) net benefit to society from the event. D) total number of economic agents affected by the event.

A new major league baseball expansion team is moving to your town. It will inject consumer spending worth $40 million into your local economy initially. The Chamber of Commerce predicts that this will generate a total of $500 million in additional spending for your town. The team owners think that this is an underestimate. What do you need to know to figure out who is right? Explain