Max has been offered positions by two car companies. The first company pays a salary of $12,500 plus commission of $1500 for eac
1 answer:
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Answer:
infinity
Step-by-step explanation:
a) the expected value of this gamble in dollars is Infinity
i.e
expected value =
=
b)
When offered, most people say they would pay only less than $10 to play this game.
What are two reasons why people are willing to pay so much less than the expected value?
These people are ready to pay less than $10 to play this game due to the fact that people usually overlook the unlikely event when making decisions. In a bid to that logic, they gamble in order to double their amount of money and the probability that heads may never come is ignored by these people and they may hope for a likely event i.e a head every time they play the game.
Also, the expected value is so humongous that if and only if that the first head appears after a long series of tails which is very less certain to occur, because mostly people would think that on an average the length of a series of tails ( or heads) is somewhat near 10 or so, but definitely infinity.
Answer:
The skydiver will fall 1600 ft in 10 seconds.
Step-by-step explanation:
<u>Distance a body falls from rest varies directly as the squares of the time it falls </u>
Let distance = s
time = t
Therefore , s = k
Given, the body falls 64 ft in 2 seconds.
Substituting in above equation,
64 = k
64 = k
k =
k = 16 ft/
We have to find how much he will fall in 10 seconds.
s = k
s =
s =
s = 1600 ft