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blagie [28]
2 years ago
10

Scholarship A is worth $3000 and costs $10 to apply. Scholarship B is worth $4000 and costs $25 to apply. You have a 5% chance o

f receiving Scholarship A and a 1% chance of receiving Scholarship B.
(a) What is your expected value for Scholarship A?

$
Mathematics
1 answer:
fomenos2 years ago
3 0

Answer:

$140

Step-by-step explanation:

Given:

P(getting scholarship A)=0.05

P(getting scholarship B)=0.01

E(value of scholarship A)=0.05 ( 3000-10)+ 0.95(-10)

                                        =$140

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