Quantitative methodsexpected valuein problem outlined below

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Reference no: EM13369784

Quantitative methods:Expected value

In problem outlined below, the Bombers' management has determined the following probabilities of the occurrence of each future season outcome for each player:

Player Loser Competitive Makes Playoff
Byrd .15 .55 .30
O'neil .18 .26 .56
Johnson .21 .32 .47
Gordan .30 .25 .45

Evaluate the expected value for each player and indicate which player the team should try to sign.

Reference no: EM13369784

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