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you entered in a gambling that will give you 40 percent chance 600 dollars and 60 percent chance of 900 dollars, what is the certain
you entered in a gambling that will give you 40 percent chance 600 dollars and 60 percent chance of 900 dollars, what is the certain sum of money that makes you indifferent between gambling and taking the money...
1-what is the total money you can get from gambling ?
2-what is the utility you get from gambling ?
3-what is the certainty amount of money you accept instead of gambling ?
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