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Question 27 (4 points) A gambler makes a wager on the number of games his favorite NFL team will win this fall. The payoffs and
Question 27 (4 points) A gambler makes a wager on the number of games his favorite NFL team will win this fall. The payoffs and probabilities are shown below. What is the expected value of his investment? # of WINS Probability Payoff More than 120.28 $126,868.00 11 0.23 $76,004.00 10 0.35 $0.00 Less than 10 0.14 -$145,369.00 UI 8 $23,435.09 $32,652.30 $29,865.14 $13,394.32
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Finance Applications And Theory
Authors: Marcia Cornett, Troy Adair, John Nofsinger
1st Edition
0073382256, 9780073382258
