You are driving home from work, and get stuck in a traffic jam. You are considering turning

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You are driving home from work, and get stuck in a traffic jam. You are considering turning off from your usual route home and taking a longer route that might have less traffic. However, you know that there is some chance that the traffic on your usual, shorter route will clear up. Based on Table 11P-1, calculate the expected value (in minutes until you arrive home) of each option.
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Microeconomics

ISBN: 978-1259163531

1st edition

Authors: Dean Karlan, Jonathan Morduch

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