April 2024
Intermediate to advanced
824 pages
36h 45m
English
Content preview from Business Statistics
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740 Business Statistics
For act A
1
, expected monetary value (EMV) is
(0.10 × 0 + 0.15 × 0 + 0.20 × 0 + 0.25 × 0 + 0.30 × 0) = 0
For act A
2
, expected monetary value (EMV) is
[(0.10 × –1000 + 0.15 × 1000 + 0.20 × 1000 + 0.25 × 1000 + 0.30 × 1000)
= 800]
For act A
3
, expected monetary value (EMV) is
[(0.10 × –2000 + 0.15 × 0 + 0.20 × 2000 + 0.25 × 2000 + 0.30 × 2000) = 1300]
For act A
4
, expected monetary value (EMV) is
[(0.10 × –3000 + 0.15 × –1000 + 0.20 × 1000 + 0.25 × 3000 + 0.30 × 3000)
= 1400]
For act A
5
, expected monetary value (EMV) is
[(0.10 × –4000 + 0.15 × –2000 + 0.20 × 0 + 0.25 × 2000 + 0.30 × 4000) = 1000]
It can be noticed that for act