Consider a lottery with two possible outcomes:
Rupees 100 with probability 0.6
Rupees 50 with probability 0.4
The maximum amount that a risk-neutral person would be willing to pay to play the above lottery equals Rupees _________ (in integer).
Rupees 100 with probability 0.6
Rupees 50 with probability 0.4 The maximum amount that a risk-neutral person would be willing to pay to play the above lottery equals Rupees _________ (in integer).
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Correct Answer: 80
Solution and Explanation
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\[\begin{array}{|c|c|} \hline X & Y \\ \hline -3 & 9 \\ -2 & 4 \\ -1 & 1 \\ 0 & 0 \\ 1 & 1 \\ 2 & 4 \\ 3 & 9 \\ \hline \end{array}\]
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\[\begin{array}{|c|c|} \hline \textbf{Class interval} & \textbf{Frequency} \\ \hline 5-10 & 5 \\ 10-15 & 15 \\ 15-20 & 22 \\ 20-25 & 25 \\ 25-30 & 10 \\ 30-35 & 3 \\ \hline \end{array}\]
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Two players \( A \) and \( B \) are playing a game. Player \( A \) has two available actions \( a_1 \) and \( a_2 \). Player \( B \) has two available actions \( b_1 \) and \( b_2 \). The payoff matrix arising from their actions is presented below:
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After the 2nd round, the 5th student behind Q leaves the game.
After the 3rd round, the 3rd student behind V leaves the game.
After the 4th round, the 4th student behind U leaves the game.
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