The lottery's anticipated worth is $80.
Given that,
The probability of receiving $125 is 0.25; the likelihood of receiving $100 is 0.3; and the likelihood of receiving $50 is 0.45.
A) EV=125*.2+100*.3+50*.5=$80
The lottery's anticipated worth is $80.
The expected value is obtained by multiplying each result by its likelihood.
The expected value of the lottery is then calculated by adding up all of these.
This is what we have: ;;
125(0.2) + 100(0.3) + 50(0.5) (0.5)
= 25 + 30 + 25 = $80
B) This is the formula for variance is shown in figure :
So, we can calculate the variance as follows:
.2*(125-80)^2+.3*(100-80)^2+.5*(50-80)^2=975
C) A risk-neutral person would pay $80 or less to play the lottery.
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Answer:
Where's the chart
Step-by-step explanation:
All times. The numbers you are dividing with are quotients.
Answer:
Step-by-step explanation:
Hello,
26 = 2 * 13
8 = 2 * 4
so we can simply as below.
Thank you
X + y = 20 Substitute
x by 2 y - 4 in x + y = 20 to obtain 2 y •
4 + y = 20 Solve for y to find y = 8 and
x = 2y - 4 = 12