Question
Scholarship A is worth $3000 and costs $10 to apply. Scholarship B is worth $5000 and costs $25 to apply. You have a 4% chance
Scholarship A is worth $3000 and costs $10 to apply. Scholarship B is worth $5000 and costs $25 to apply. You have a 4% chance of receiving Scholarship A and a 1% chance of receiving the Scholarship B.
What is your expected value for Scholarship A?
What is your expected value for Scholarship B?
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Prealgebra
Authors: Marvin L Bittinger, David J Ellenbogen, Barbara L Johnson
7th Edition
032164008X, 9780134347202
