You can think of Washington getting $1 if they win and $0 if they lose. Then the

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You can think of Washington getting

$1 if they win and $0 if they lose. Then the EMV is 1*P(Win) 0*P(lose) P(Win), so maximizing EMV is equivalent to maximizing the probability of winning.

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Practical Management Science

ISBN: 9781111531317

4th Edition

Authors: Wayne L. Winston, S. Christian Albright

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Question Posted: Oct 23, 2024 08:00 AM

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You can think of Washington getting $1 if they win and $0 if they lose. Then the EMV is 1*P(Win) 0*P(lose) P(Win), so maximizing EMV is equivalent to maximizing the probability of winning.
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You can think of Washington getting $1 if they win and $0 if they lose. Then the

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Practical Management Science

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