Some discount stores put products in large bins and let consumers hunt and find bargains. the price these consumers pay includes
1 answer:
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Answer: Expected value = $2.034
Explanation:
Total outcome = 52
Favorable Outcome = 8
Probability of drawing a card with a value of three or less =
=
=
Probability of drawing a card with a value of more than three = 1 -
=
Hence,
Expected value =
= 22.338 - 20.304
= $2.034
<span>The answer to your question is
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Backward induction is a process of decision making where you reason backward of the situation.
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Hope this helped!</span>
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<span>
Backward induction is a process of decision making where you reason backward of the situation.
</span><span>
Hope this helped!</span>