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Social Sciencethis a statistics question!!!! I am lookin for the monetary value!!!!For box a is $100,000 box b is -$55,000box c is 0 and box d is 0 p1 = 75%p2 = 25% questions are 1. what EMV ( expected monetary value) amount do you come up with ? And what is your EMV decision ? In other words, do you build, or not?
this a statistics question!!!! I am lookin for the monetary value!!!!
For box a is $100,000
box b is -$55,000
box c is 0
and box d is 0
p1 = 75%
p2 = 25%
questions are
1. what EMV ( expected monetary value) amount do you come up with ? And what is your EMV decision ? In other words, do you build, or not?
Expert Answer
Solution:
The expected value of a random variable X formula is
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Ε(1) -Σ2(x = )
1.The EMV ( expected monetary value) is obtained below:
From the given information, box a is $100,000, box b is –$55,0...
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E(1) -ΣΡ(X =x | -[(100,000x 0.75)+(-55,000x 0.25)] 75,000-13,750 61,250
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Statistics
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