What is y = sin-1(7/12)
2 answers:
You can't mentally solve it but you can plug it into a scientific calculator.
Get to the website:
1.) Search up Desmos on Google
2.) Click on Scientific Calculator and follow the steps below to get your answer
How to get the answer to y = sin^-1(7/12)
1.) Click on func
2.) Click on sin^-1
3.) Click on main
4.) Click on a/b
5.) Type in 7 for the numerator and 12 for the denominator
6.) And you'll get your answer on the right side as 35.68533471
Shown in the image.
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Note that
Answer:
Mary's risk premium is $0.9375
Step-by-step explanation:
Mary's utility function,
Mary's initial wealth = $100
The gamble has a 50% probability of raising her wealth to $115 and a 50% probability of lowering it to $77
Expected wealth of Mary,
= (0.5 * $115) + (0.5 * $77)
= 57.5 + 38.5
= $96
The expected value of Mary's wealth is $96
Calculate the expected utility (EU) of Mary:-
The expected utility of Mary is $9.75
Mary will be willing to pay an amount P as risk premium to avoid taking the risk, where
U(EW - P) is equal to Mary's expected utility from the risky gamble.
U(EW - P) = EU
U(94 - P) = 9.63
Square root (94 - P) = 9.63
If Mary's risk premium is P, the expected utility will be given by the formula:
Mary's risk premium is $0.9375