Janet is buying a $28 necklace. The store reduces the price by 20% and then applies a $2 off coupon. How much will Janet pay for
2 answers:
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Answer:
The probability of successful long hit is greater than 0.7083
Step-by-step explanation:
Solution
The expected value for long hit is given below
P (successful hit) * 4.2 + P (Unsuccessful hit) *5.4
so,
= P * 4.2 + (1-p) * 5.4
= 5.4 - 1.2p
Now,
If the expected value of long hit is less than that of the short it
Then,
5.4 - 1.2p <4.55
P> (5.4 - 4.55)/1.2
P> 0.7083
Therefore the probability of successful long hit is greater than 0.7083
Note:
Due to my research and findings to this example, the complete question for is attached below, i solved or Question 2(d) only
