Please Help, answer 4 and 5
1 answer:
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Answer:
175$
Step-by-step explanation:
Given that Pam is an employee at a jewelry kiosk in a mall. If Pam works hard, there is a 75% probability that jewelry profits will equal $400 a day and a 25% probability that jewelry profits will equal $200 a day. If Pam shirks, there is a 25% probability that jewelry profits will equal $400 a day and a 75% probability that jewelry profits will equal $200 a day.
Since Pam works hard
expected value of profit for the kiosk =
From this value, 50% would be given to Pam
Hence expected gain for Pam for working hard
=
175 $