Mathematics, 27.06.2020 03:01, 0Me0

Suppose that, in an experimental setting, 100 students are asked to choose between Gamble A and Gamble B, where: Gamble A: The student will receive $5,100 with a 70 percent probability and $200 with a 30 percent probability. Gamble B: The student will receive $5,100 with a 50 percent probability, $200 with a 25 percent probability, and $0 (nothing) with a 25 percent probability. What is the expected value (EV) of Gamble B

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Suppose that, in an experimental setting, 100 students are asked to choose between Gamble A and Gamb...