
Concept explainers
An investment. You wish to invest $1000, and you have two choices. One is a sure thing, and you will make a 5% profit. The other is a riskier venture. If the venture pays off, you will make a 25% profit; otherwise, you lose your $1000. What is the minimum required probability of this riskier venture paying off in order for the expected value to exceed the value of the first investment?

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