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Confucious Group Title

Need some confirmation on this one. It's attached.

  • 2 years ago
  • 2 years ago

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  1. Confucious Group Title
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    • 2 years ago
  2. funinabox Group Title
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    that's quite the document you've attached there, Confucious.

    • 2 years ago
  3. Confucious Group Title
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    ...Thank you :) .... can you help me....?

    • 2 years ago
  4. JuanitaM Group Title
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    yes, the first is correct

    • 2 years ago
  5. JuanitaM Group Title
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    yes for EV multiply by 6 since that is the number of chances he has. great job

    • 2 years ago
  6. Confucious Group Title
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    That would be 6 times the $1.40 which is $8.40 So he contributed $8.40?

    • 2 years ago
  7. JuanitaM Group Title
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    no his expected value is 8.40 he contributed 6 tickets at 5

    • 2 years ago
  8. Confucious Group Title
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    I don't understand. Expected earnings is the 2000 times the probability that he'll win which is 6 out of 2852. That comes out to a dollar and 40 cents. How do I found out what he contributed to the place?

    • 2 years ago
  9. Confucious Group Title
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    find*

    • 2 years ago
  10. JuanitaM Group Title
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    his expected value is 8.40 he actually paid 30.00 so his EV is less than what he contributed

    • 2 years ago
  11. Confucious Group Title
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    I don't understand how his expected earnings come to 8.40. The problem says that you find it by multiplying the chance that he'll win (6/2852) by the value of the cruise ($2000). The answer for that is $4.21(made a mistake). How do I use that to find out how much he contributed?

    • 2 years ago
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