Y = 30 - 25X + error What is the expected value of Y when X is 0? Y = 10 + 13.57*X + error By how much does the expected value of Y change if X increases by 18.02 units? (Round your answer to two decimal places: ex: 123.45)
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Y = 30 - 25X + error
What is the expected value of Y when X is 0?
Y = 10 + 13.57*X + error
By how much does the expected value of Y change if X increases by 18.02 units? (Round your answer to two decimal places: ex: 123.45)
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- Y = 1million + 56.43*X + error By how much does the expected value of Y change if X increases by 2 units? (Round your answer to two decimal places: ex: 123.45) Y = 50 + 3X + error By how much does the expected value of Y change if X decreases by 10 units?At a raffle, 100 tickets are sold for 1 prize of $100 and 3 consolation prizes of$20. If the ticket is worth $2, what would be the expected value?Find the expected value assuming the risk factor is 30 % and the interest rate is 15%, if you will receive $20,000 one year from today. Find the expected value assuming the risk factor is 30 % and the interest rate is 15%, if you will receive $20,000 two years from today.
- A drug company is considering investing $100 million today to bring a weight loss pill to the market. At the end of one year, the firm will know the payoff; there is a 0.50 probability that the pill will sell at a high price and generate $37 million per year of profit forever and a 0.50 probability that the pill will sell at a low price and generate $I million per year of profit forever. The interest rate is 10%. Suppose the firm decides to wait one year to determine whether the pill will sell at a high or low price. The firm will not invest if it learns that the pill will sell at a low price. What is the net present value of waiting one year to make the investment?O $88 millionO$122.72 millionO $201.22 millionO $64.5 millionClancy has difficulty finding parking in his neighborhood and, thus, is considering the gamble of illegally parking on the sidewalk because of the opportunity cost of the time he spends searching for parking. On any given day, Clancy knows he may or may not get a ticket, but he also expects that if he were to do it every day, the average amount he would pay for parking tickets should converge to the expected value. If the expected value is positive, then in the long run, it will be optimal for him to park on the sidewalk and occasionally pay the tickets in exchange for the benefits of not searching for parking. Suppose that Clancy knows that the fine for parking this way is $100, and his opportunity cost (OC) of searching for parking is $20 per day. That is, if he parks on the sidewalk and does not get a ticket, he gets a positive payoff worth $20; if he does get a ticket, he ends up with a payoff ofSuppose your utility function for money is a square-root function of its value in US dollars. So, for instance, $400 is worth 20 utils for you, $961 is worth 31 utils for you, and $62.5K is worth 250 utils for you. Now, let’s say your annual salary is $90K, although there is a small risk (p = 0.05) that something catastrophic will happen and reduce your income for the year to $14.4K. An insurance company comes along and offers to insure you against the loss of your salary. The cost of the insurance is $4,736. If you buy the policy and catastrophe strikes, the insurance company will pay out the $75,600 that you would otherwise have lost. From the standpoint of maximizing expected utility, would buying this insurance be a good deal for you? What would be the insurance company’s expected monetary value of selling you the policy?
- The current average diesel price is about 145 pence per litre. Your friend firmly believes that the average diesel price will shoot over 160 pence per litre for the Christmas period due to supply and logistics problems while you think, with the mitigation policies from the government, that there is a 60% probability that it will remain below 160 pence per litre. The two of you decide to bet on the outcome with x pounds: if you win, your friend pays you x pounds and vice versa. Your current wealth is 5,000 pounds which is also the maximum amount you can bet. As an expected utility maximiser, should you bet, and why or why not? If you do bet, what is the optimal amount that you should bet to maximise your expected utility?The prizes that can be one and a sweepstakes are listed below together with the chances of winning each one: $5900(1 chance in 8600); $2700(1 chance in 5000);$600(1 chance in 4800);$200(1chance in 2500). Find the expected value of the amount won for one entry if the cost of entering is 52 centsFind the expected value assuming the risk factor is 30 % and the interest rate 12%, if you will receive $20,000 one year from today.please show work
- Consider the two options in the following table, both of which have random outcomes: a. Determine the expected value of each option. b. Determine the variance and standard deviation of each option. c. Which option is most risky?You are taking two courses this semester, biology and chemistry. You have quizzes coming up in both classes. The table below shows your grade on each quiz for different numbers of hours studying for each quiz. For instance, the second row implies that one hour of studying for Chemistry will generate an expected grade of 73 on Chemistry, whereas one hour of studying for Biology will generate an expected grade of 75 on Biology. Hours of Study Chemistry Biology 0 65 68 1 73 75 2 79 80 3 83 83 Your goal is to maximize your average grade on the two quizzes. Use the idea of optimization in differences to decide how much time you would spend studying for each quiz if you had a total of 1, 2, or 3 hours to prepare for each exam. If you had 1 hour, you should study..... If you had 2 hours, then you should study.... hour(s) for chemistry and..... hour(s) for biology. If you had 3 hours, then you should study ..... hour(s) for chemistry and..... hour(s) for biology.…Now, imagine that Port Chester decides to crack down on motorists who park illegally by increasing the number of officers issuing parking tickets (thus, raising the probability of a ticket). If the cost of a ticket is $100, and the opportunity cost for the average driver of searching for parking is $12, which of the following probabilities would make the average person stop parking illegally? Assume that people will not park illegally if the expected value of doing so is negative. Check all that apply.
