Answer:
Hence, 0.00000103 can be expressed as .
Step-by-step explanation:
- Given 0.00000103
- Move the decimal point so that the factor is greater than or equal to 1 but less than 10 .
- Then count n and write no. as a product with a power of 10 .
Step 1 of 1
Consider 0.00000103,
1.03
Decimal has moved 6 places to right.
The power will be negative as the original no. is less than 1 .
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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