One of the clients for the consultancy firm you work for operates an escape room. Their escape
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One of the clients for the consultancy firm you work for operates an escape room. Their escape room has 14 rooms, with an exit in both room 1 and 14. The puzzles have been setup so that there is a 0.3 probability of moving forward and a 0.4 probability of moving backwards (and a probability of 0.3 of remaining at the same puzzle). They are currently running a competition with an entry cost of $50 and a prize of $200 if contestants exit room 14. Assumes that contestants start in room 10. They would like you to find the expected loss for each contestant.
Related Book For
College Mathematics for Business Economics Life Sciences and Social Sciences
ISBN: 978-0321614001
12th edition
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
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