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.
To learn more about probability click here:
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Answer:
x = 5/8
Step-by-step explanation:
Isolate the variable by subtracting 1/8 from both sides:
3/4 - 1/8 = 5/8
Now, the equation is:
x = 5/8
Therefore, the answer is 5/8
Answer:
x = 7
Step-by-step explanation:
6 - 4x = -22
-6 - 6
-4x = -28
x = -28/-4
x = 7
Answer:
The answer is d = C/pi.
Step-by-step explanation:
To solve this equation for the variable d, we must isolate it on the right side of the equation. It is currently being multiplied by pi, so to reverse this action, we should divide both sides of the equation by pi.
c = (pi) * d
c/pi = pi/pi * d
c/pi = d
d = c/pi
Therefore, the answer is d = C/pi.
Hope this helps!
Answer:
<u>$5.94
</u>
Step-by-step explanation:
Multiply 2.75 by $0.76 to get $2.09
Multiply 2.75 by $1.40 to get $3.85
Add $3.85 and $2.09 to get $5.94