Multiply row 2 by the reciprocal of −40:
2 answers:
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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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Finding the equivalent multiplier, it is found that the function for the final price is:
P(x) = 0.68x.
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- There is a holiday sale of 20% off the price of x, thus 0.8x is paid, as 1 - 0.2 = 0.8.
- Additionally, there is a coupon of 15% off, thus, 0.85 of 0.8x is paid.
- The equivalent multiplier is:
- Thus, the function for the final price is:
A similar problem is given at brainly.com/question/16999193