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anonymous

  • one year ago

In a product liability case, a company can settle out of court for a loss of $300000, or go to trial, losing $1500000 if found guilty and nothing if found not guilty. Lawyers for the company estimate the probability of a not-guilty verdict to be 0.52. What is the expected value of the amount the company can lose taking the case to court?

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  1. anonymous
    • one year ago
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    \[.48\times 1500000\]

  2. anonymous
    • one year ago
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    thanks!

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