Mathematics, 22.04.2020 02:54 awdadaddda
Billy has a von Neumann-Morgenstern utility function U(c) = c 1/2. If Billy is not injured this season, he will receive an income of 25 million dollars. If he is injured, his income will be only 10,000 dollars. The probability that he will be injured is .1 and the probability that he will not be injured is .9. His expected utility is
Answers: 3
![E[x]=0.9\times \sqrt{(0.01)}+0.1\times \sqrt{25}\\\\E[x]=0.9\times 0.1+0.1\times 5\\\\E[x]=0.09+0.5\\\\E[x]=0.59](/tpl/images/0617/2483/a5401.png)
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Billy has a von Neumann-Morgenstern utility function U(c) = c 1/2. If Billy is not injured this seas...
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