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Scholarship A is worth $1000 and costs $10 to apply. Scholarship B is worth $4000 and costs $25 to apply. You have a 4% chance
Scholarship A is worth $1000 and costs $10 to apply. Scholarship B is worth $4000 and costs $25 to apply. You have a 4% chance of receiving Scholarship A and a 1% chance of recei Scholarship B. (a) What is your expected value for Scholarship A? $ (b) What is your expected value for Scholarship B? $ (c) You can only apply for one scholarship. which one should you choose? Scholarship A '\\ Scholarship B Submit
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