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The Prospect theory was introduced by two psychologists, Daniel Kahneman, and Amos Tversky. As per the theory, given the choice of equal probabilities, most people would choose to retain the wealth that they already have, rather than risk the chance to increase their current wealth. People are usually averse to the possibility of losing, such that they would rather avoid a loss rather than take a risk to make an equivalent gain. It is a psychology theory that describes how people make decisions when presented with alternatives that involve risk, probability, anduncertainty. It holds that people make decisions based on perceived losses or gains
‘A’ can do a piece of work in 15 days. ‘B’ can do 70% of the same work in 20 days. If they work together for the entire time and...
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A’ and ‘B’ together can complete a work in 18 days while ‘A’ takes 36 days to complete the same work alone. If ‘C’ is 50% more efficient t...
A and B together can complete a piece of work in 12 days. A alone can complete the work in 20 days. A starts the work and is joined by B after 5 days. H...
‘A’ and ‘B’ can complete a certain work in 16 days and 32 days, respectively. They started working together and worked till completion of the wo...
P’s 5 days work is equal to Q’s 6 days work. If P and Q together can complete the work in 25 days then how much time Q will take to complete 80% of ...
'Amit' alone can do some work in 15 days. 'Bunty' is 40% more efficient than 'Amit'. 'Amit' worked alone for 4 days and left. How much time (in days) do...
Jack is twice efficient as Jill and Jill can do a piece of work in 30 days. Jill started the work and after a few days Jack joined him. They completed t...
A contractor undertook to make 20 km of roadway in 48 weeks. In 28 weeks, 8 km was completed by 120 men working 12 hours a day. The men then agreed to w...
A alone work for 6 days then left the work and B alone finishes remaining work in 12 days. If ratio of time taken by A alone to B alone to finish work ...