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Originally Posted by truxmonster  Matthew is a contestant on the game show "Behind the Curtain." The host has given him $50. In front of Matthew are three curtains. Behind one curtain is a jar with three dimes. Behind the second curtain is a check for $30. Behind the third curtain is a check for $120. Assuming he is risk neutral and interested only in the cash value of the value, is Matthew willing to trade the $50 for a chance to pick a curtain at random and take whatever prize it conceals? Explain by writing the appropriate expected utility calculation.
I also posted this in Statistics Help. Sorry for double posting, but I'm hoping to get as many people as possible to answer this quickly. |
You will not get help more quickly by double posting. Posting a question once is sufficient for it to be seen by any member competent and willing to help.
Forum rules clearly state:
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1) Do not create identical threads. Do not double post.
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The rule is there to prevent people wasting their time time answering a question that may already have been answered.
Your desire to get a quick reply is not an excuse for breaking this rule.