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You have a lottery ticket that has a 4 5 % chance of winning $ 1 0 . 0 0 and a 5 5 %
You have a lottery ticket that has a chance of winning $ and a chance of not winning anything. Your friend has a different lottery ticket with a chance of winning $ and an chance of not winning anything.
Your friend has offered to let you have her ticket if you will give her your ticket plus $ Draw a decision tree for this decision. What is the Expected Monetary Value EMV of these options, and what should you do
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