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solong [7]
2 years ago
15

Consider the following bet: heads I pay you a dollar, tails you pay me a dollar. What is the expected payoff (return) of this be

t? (Assume a fair coin.)
Business
1 answer:
quester [9]2 years ago
7 0

Expected Payoff  = Probability of Heads * Payoff to you + Probability of Tails * Payoff

Expected Payoff to you = 50% * $2 + 50% * -$1 = $1 + (-$0.5) = $0.50.

$0.50 is the expected payoff (return) of this bet.

Expected value is a measure of what you can expect in the long run for each game. The game payment is the expected value of the game minus the cost. If you play the game repeatedly and get an average of about $ 2.20, and it costs only $ 2 to play, the expected payment is $ 0.20 per game.

To calculate the expected payoff, you need to multiply each result by an estimate of its probability and then sum the products. In this example, there is a 10% chance of a 5% drop with a -0.5% result.

Learn more about the expected payoff here: brainly.com/question/14209505

#SPJ4

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Roseanna asked Henry, one of her team members, to purposefully think of and voice criticisms as the group discussed a popular id
enot [183]

Answer:

Devil's advocacy.

Explanation:

Devil's advocacy is defined as a person who pretends in a discussion. He/she pretends to be against an idea or plan many people support so as to make people discuss it in more detail. Here Rosana uses devil's advocacy on Henry by telling him to criticize the group's discussion.

8 0
4 years ago
What is the safest way to dispose of old bank account statements?
zheka24 [161]
Soaking the documents in water after tearing them up words well, burning them is less safe, but is the safest for your records, always tear or shred them no matter what
7 0
3 years ago
1. Analysis How many burritos will the producer supply at the price of $1? In your opinion, what is the reason for that quantity
amm1812

The number of burritos that will be supplied depends on the costs the supplier incurs.

You did not include any charts that can be used to answer this specific question so I will give a general answer.

When a supplier is deciding the price at which to supply a good, they look at:

  • Their costs both fixed and variable
  • The price others are charging
  • The demand for the good

The most important factor is their costs. If in this case, it costs more than $1 to produce a burrito, they will not supply burritos. If their costs are less than a dollar, the number of burritos supplied will then depend on other factors but they will supply some.

In conclusion, if the cost to make the burrito is less than $1, the supplier will supply no burritos but if the cost is less, they will supply based on other factors.

<em>Find out more at brainly.com/question/1908405.</em>

8 0
3 years ago
Koontz Company uses the perpetual inventory method. On January 1, Year 1, the company’s first day of operations, Koontz purchase
Artist 52 [7]

Answer:

$ 8,970

Explanation:

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3 years ago
A feature of monopoly that leads to unfavorable consequences is that it:
sammy [17]
Generally, prices are inflated when there are fewer choices.  
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3 years ago
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