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funinabox
 2 years ago
Best ResponseYou've already chosen the best response.0that's quite the document you've attached there, Confucious.

Confucious
 2 years ago
Best ResponseYou've already chosen the best response.0...Thank you :) .... can you help me....?

JuanitaM
 2 years ago
Best ResponseYou've already chosen the best response.1yes, the first is correct

JuanitaM
 2 years ago
Best ResponseYou've already chosen the best response.1yes for EV multiply by 6 since that is the number of chances he has. great job

Confucious
 2 years ago
Best ResponseYou've already chosen the best response.0That would be 6 times the $1.40 which is $8.40 So he contributed $8.40?

JuanitaM
 2 years ago
Best ResponseYou've already chosen the best response.1no his expected value is 8.40 he contributed 6 tickets at 5

Confucious
 2 years ago
Best ResponseYou've already chosen the best response.0I 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?

JuanitaM
 2 years ago
Best ResponseYou've already chosen the best response.1his expected value is 8.40 he actually paid 30.00 so his EV is less than what he contributed

Confucious
 2 years ago
Best ResponseYou've already chosen the best response.0I 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?
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