Jerry is a working-class black man with good credit. he needs to take out a loan to pay for some improvements to his house. several banks denied his request for a loan because the neighborhood he lives in is considered risky for real-estate investments. jerry is the victim of

Suppose you win a small lottery and have the choice of two ways to be paid: you can accept the money in a lump sum or in a series of payments over time. if you pick the lump sum, you get $2,950 today. if you pick payments over time, you get three payments: $1,000 today, $1,000 1 year from today, and $1,000 2 years from today. 1) at an interest rate of 6% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 2) at an interest rate of 9% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 3) years after you win the lottery, a friend in another country calls to ask your advice. by wild coincidence, she has just won another lottery with the same payout schemes. she must make a quick decision about whether to collect her money under the lump sum or the payments over time. what is the best advice to give your friend? a) the lump sum is always better. b) the payments over time are always better. c) it will depend on the interest rate; advise her to get a calculator. d) none of these answers is good advice.

How can improving one’s reasoning skills also improve one’s performance on the job? if one can improve one’s reasoning, one can also improve one’s physical fitness and athletic performance. if one can improve one’s reasoning, one can perform anything. high-performing workers always work reasonable schedules. high-performing workers are able to analyze sophisticated streams of data and solve complex problems.

Rashid, the ceo of top productions, was telling his new vice president of accounting that "in the past i had resistance to new ideas by people who felt that one of our plans threatens their influence or jobs. so when you tell your collections department that we just hired a collection agency to handle bad debt, you may have to sell your collections manager and his supervisors on using the agency and that nobody is going to be laid off." selling middle and supervisory managers on changes to overcome their resistance is often a necessary part of