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Lorico [155]
2 years ago
6

The picture shows the $63.90 three friends spent on dinner.

Mathematics
2 answers:
nydimaria [60]2 years ago
4 0

Answer:

$21 . 30

Step-by-step explanation:

Money spent on dinner  =$ 63.90

Money paid by each of the 3 friends = 63.90 ÷ 3 = $ 21.30

Setler [38]2 years ago
4 0

$21 . 30

step by step Explanation:

63.90 ÷ 3 = $21.30

<em>hope this helps!</em>

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Answer:

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Step-by-step explanation:

We have that the function of wealth is U (w) = w ^ (1/2)

So, since what you have at the start is 100, we replace:

U (w) = 100 ^ (1/2)

U = 10

Now we have two cases:

the first one we win, then the winnings would be 100 minus the cost of the lottery, that is 36 and to that add G of the prize:

100 - 36 + G = 64 + G

In the second case, where we lose, the subtraction of 100 that we have minus the cost of the lottery would be equal 36

100 - 36 = 64

Therefore, we have to win with an 18% probability, therefore losing would be 82% (100% - 18%)

0.18 * (64 + G) ^ (1/2) + 0.82 * 64 ^ (1/2)

solving:

0.18 * (64 + G) ^ (1/2) + 6.56

Now this is equal to U which is equal to 10:

10 = 0.18 * (64 + G) ^ (1/2) + 6.56

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(64 + G) = 365.23

G = 365.23 - 64

G = 301.23

Therefore, the smallest G prize size that the lottery will be willing to buy is $ 301.23

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