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Author Question: Expectations and UncertaintyYou are considering playing a lottery at work. Once you pay $6 to enter ... (Read 317 times)

connormoss

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on: Nov 23, 2022
Expectations and Uncertainty

You are considering playing a lottery at work. Once you pay $6 to enter the lottery, your name will go in a hat with the names of others who have also paid to enter the lottery. Each person can only enter their name once and a person will be chosen at random to win the total of the entry fees. If 32 other people at work have already paid to enter, what is the expected value of your payout should you choose to enter?
Please round your final answer to the nearest cent.
◦ $5.82
◦ $0.00
◦ $6.00
◦ $6.19
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by connormoss on Nov 23, 2022

athenaheim

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Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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connormoss

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Reply 2 on: Nov 23, 2022
Excellent

ttt030911

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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