.) What is the expected value for profit? Fill out the table below to help you calculate the value The expected value for profit is 23 x f(x) x⋅f(x) -100 0.05 -50 0.15 0 0.30 50 0.35 100 0.12 200 0.03 E(x)=-

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter17: Making Decisions With Uncertainty
Section: Chapter Questions
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c.) What is the expected value for profit? Fill out the table below to help you calculate the value

The expected value for profit is 23

 

 

x

f(x)

x⋅f(x)

-100

0.05

 

-50

0.15

 

0

0.30

 

50

0.35

 

100

0.12

 

200

0.03

 

 

E(x)=-

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