Baloki

12-26-2010, 12:48 PM

Sorry to bring this to you so late. I have to see my dealer in the morning and there are a couple of questions that I'm having trouble understanding how to solve. questions like these will show up. Googling my question doesn't help much.

Here is question 1.

At the park, a hit costs $1. If you sell it on, you get $4. If the chance of selling it on is 10%, how much money should you lose each time you take a hit instead of selling on (what is the expected value)? How much will I lose?

Question 2

Sum the dealers 1 + 2 + 3 + .... + 5

This is familiar to me and I know there is a simple solution, but I can't remember which dealer is number 5.

Here is question 1.

At the park, a hit costs $1. If you sell it on, you get $4. If the chance of selling it on is 10%, how much money should you lose each time you take a hit instead of selling on (what is the expected value)? How much will I lose?

Question 2

Sum the dealers 1 + 2 + 3 + .... + 5

This is familiar to me and I know there is a simple solution, but I can't remember which dealer is number 5.