A venture capitalist, willing to invest $1,000,000, has three investments to choose from. The first investment, a software company, has a 10% chance of returning $10,000,000 profit, a 24% chance of returning $3,000,000 profit, and a 66% chance of losing the million dollars. The second company, a hardware company, has a 13% chance of returning $7,000,000 profit, a 22% chance of returning $1,000,000 profit, and a 65% chance of losing the million dollars. The third company, a biotech firm, has a 8% chance of returning $7,000,000 profit, a 28% of no profit or loss, and a 64% chance of losing the million dollars. Order the expected values from smallest to largest.
A venture capitalist, willing to invest $1,000,000, has three investments to choose from. The first investment, a software company, has a 10% chance of returning $10,000,000 profit, a 24% chance of returning $3,000,000 profit, and a 66% chance of losing the million dollars. The second company, a hardware company, has a 13% chance of returning $7,000,000 profit, a 22% chance of returning $1,000,000 profit, and a 65% chance of losing the million dollars. The third company, a biotech firm, has a 8% chance of returning $7,000,000 profit, a 28% of no profit or loss, and a 64% chance of losing the million dollars. Order the expected values from smallest to largest.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter6: Systems Of Linear Equations And Inequalities
Section6.1: Graphing Systems Of Equations
Problem 59PFA
Related questions
Topic Video
Question
A venture capitalist, willing to invest $1,000,000, has three investments to choose from. The first investment, a software company, has a 10% chance of returning $10,000,000 profit, a 24% chance of returning $3,000,000 profit, and a 66% chance of losing the million dollars. The second company, a hardware company, has a 13% chance of returning $7,000,000 profit, a 22% chance of returning $1,000,000 profit, and a 65% chance of losing the million dollars. The third company, a biotech firm, has a 8% chance of returning $7,000,000 profit, a 28% of no profit or loss, and a 64% chance of losing the million dollars.
Order the expected values from smallest to largest.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell