Solution-What is expected value for scholarship a

What is expected value for scholarship a

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Reference no: EM133212282

Problem:

Scholarship A is worth $2000 and costs $10 to apply. Scholarship B is worth $4000 and costs $25 to apply. You have a 5% chance of receiving Scholarship A and a 1% chance of receiving the Scholarship B.

(a) What is your expected value for Scholarship A?

(b) What is your expected value for Scholarship B?

Reference no: EM133212282

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What is expected value for scholarship a

Reference no: EM133212282

Reference no: EM133212282

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