Wednesday
July 23, 2014

Homework Help: economics

Posted by kerry on Wednesday, April 3, 2013 at 9:03pm.

In your (imaginary) neighbourhood, the general consensus seems to be that 4 out of 5 cars are in good working order. The price for a good second-hand car is 2000$, while malfunctioning ones typically fetch 600$.
(a) What is the expected value of a used car

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