The lottery's anticipated worth is $80.
Given that,
The probability of receiving $125 is 0.25; the likelihood of receiving $100 is 0.3; and the likelihood of receiving $50 is 0.45.
A) EV=125*.2+100*.3+50*.5=$80
The lottery's anticipated worth is $80.
The expected value is obtained by multiplying each result by its likelihood.
The expected value of the lottery is then calculated by adding up all of these.
This is what we have: ;;
125(0.2) + 100(0.3) + 50(0.5) (0.5)
= 25 + 30 + 25 = $80
B) This is the formula for variance is shown in figure :
So, we can calculate the variance as follows:
.2*(125-80)^2+.3*(100-80)^2+.5*(50-80)^2=975
C) A risk-neutral person would pay $80 or less to play the lottery.
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Answer:
A. a=12, b=63.c =36
Step-by-step explanation:
Answer: 2 1/3
Explanation:
10 2/6 - 7 5/6
You can make both a fraction by multiplying the denominator by the whole number, and then adding the numerator to that number, and keeping the denominator the same. So, 10*6 = 60 and 60 + 2 = 62 and you keep the denominator as 6, which would make 62/6
7*6 = 42 and 42 + 5 = 47 so 7 5/6 becomes 47/6
10 2/6 is equivalent to 62/6
7 5/6 is equivalent to 47/6
This just makes it easier to look at.
Now you just work through the equation.
62/6 - 47/6 = 15/6
15/6 = 2 3/6 = 2 1/3
17.5$ for every 5 bottles refilled. $3.50 for every 1 bottle refilled
Answer:
3 is the answer because it's value only add by the 3