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July 30, 2014

Homework Help: math

Posted by Teresa A Taylor on Wednesday, December 12, 2012 at 7:00pm.

You are in business and you are given two opportunities. The first you will have to invest $5,000 but you could earn $25,000 less your initial investment. The second you only have to invest $2000 but then you will earn $10,000 less your investment. The probability of getting the $25,000 opportunity is 3/10 while the probability of getting the $10000 opportunity is 2/5. Which should you choose based on expected values?

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