Expected value

probability of its possible values from impossible to certain. An example is like asking your father for some money. But as an alternative, instead of giving you money, he decides to have fun with it. He decides to flip a coin. It depend on what the coin lands on if you will receive money or not. If the coin lands on “heads” yo win and he will give you 20 dollars. If you are unlucky and the coin lands on tails, you lose, and will receive nothing.‘In this example, we would say that the payout associated with the event that the coin lands “heads” is $20, and the payout associated with “tails” is $0. ‘) but before saying yes and accepting your father 's offer you go and ask your mother for some extra money. She decides to play a game with you too just like your father.she makes a different offer. She will roll a die, and give you $3 for every spot that turns up. Her offer is , if she rolls a 1, she will give you $3; if she rolls a 2, she will give you $6.00 (= 2 x $3.00), ... if she rolls a 6, she will give you $18 (= 6 x $3.00)). You decided to see witch one is a better offer to take.“ the most common way of evaluating these alternatives is to calculate the…

Reflection Essay 3 “Speaking up at work” • The company experienced steady growth over the years including during the meltdown of the global economy. However, we felt we had to anticipate a possible future financial impact and looked at ways to reduce cost significantly. One of the projects was to outsource the manufacturing operations located in Canada to Mexico. The project had expected savings of millions of dollars and would help fund R&D to develop new technologies. I was in total support…

week if it remains unsold (If she comes back next week and finds the dress has been sold, Laila will buy it online). Buy now = $50 expected value Wait = (50% x $60) + (50% x $37.50) = $48.75 expected value, therefore she should wait a week. b) Just before analyzing her decision, she found another place online that sells the same dress for $55. Why might a lower price online affect her purchase decision in this store? This should definitely sway her to decision to wait a week. Should she…

Long-term relationships are especially important to the growth and development of human being’s maturity and understanding of the world. With those relationships, there are numerous preconceived societal norms from the constitutive culture in which one grows up. American culture creates expectations of how one’s partner is expected to act. In American culture, one is expected to grow up, go to college, get married and start a family, living out that life monogamously. Yet according to statistics…

The mother also tells the girl how she is expected to act in society by enforcing the way she must act “on Sundays [, and] try to walk like a lady and not like the slut you are so bent on becoming;” (Kincaid 1) Also in the story “Saving Sourdi” you can see the girls at a young age having responsibilities and leaning the roles of woman from their mother. This often or not lends to the mothers ending up molding their daughters to be just like them. Scholar Hammer (1976) suggests that a mother…

expectations can influence time management, work ethic and general attitude toward a class. Over the first block of this course there has been a significant difference between expectation and reality which has shaped my performance to some extent. As an illustration of this look no further than my first thoughts on the class regarding workload. During the first meeting I was instructed that there would be no more than 75 pages of reading a night, a number that initially threw me. Since, on most…

forms of communication, self-disclosure is a process that takes place between people who are getting to know one another. It can be messy- being vulnerable is rarely comfortable- but it is vital in establishing and maintaining healthy relationships with others and with oneself. We gradually build up to more hard-hitting questions as trust develops, and for this to happen, both people need to show their vulnerable sides. This exchange is called the social penetration theory, and it states that…

wasn’t just a dress. It was much more. My parents had to understand.I thought they would. They did not. In my hopeful heart I thought maybe, just maybe, they would buy this beautiful dress for me for Christmas. I hadn’t asked for anything big. They had tricked me like this before. They promised me I would not get an American Girl Doll for Christmas when I was eight, but sure enough there was the retired American Girl Doll of my dreams sitting under the tree. I expected this to be another…

Authors criticize society by presenting characters who are somehow trapped or imprisoned. In The Story of an Hour by Kate Chopin, Louise Mallard is trapped in an unhappy marriage. After some initial sadness, Mrs. Mallard experiences a newfound sense of freedom when she is told that her husband has died in a railroad disaster. The story comments on the expectation of American women to pursue marriage and motherhood instead of seeking an education and a job in late 19th century American society.…

In Marge Piercy’s narrative poem, “Barbie Doll”, the story of a young girl is told from the viewpoint of an outside speaker watching her grow up around the norms of society and ultimately ends her life because of it. Throughout each stanza, a new important piece of information is expressed to the readers to contribute to both the theme and tone of the poem. Piercy is able to cultivate the idea that inward beauty is not valued in today’s society, and that artificial perfection can only be…