Alpha Geek

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    Polytechnic State University Sanluis
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Category > Statistics Posted 28 Apr 2017 My Price 3.00

Sam has just paid $215 for a certificate

Sam has just paid $215 for a certificate that allows him to call the flip of an "unfair" coin. If he calls it correctly, he will win $500. If he calls it incorrectly, he will win $0. His PISP for the certificate is $315. The clairvoyant offers to tell him the outcome of the impending coin toss. What is Sam's PIBP for the clairvoyant's information? You do not know anything about Sam's risk attitude.

a. $185

b. Need Sam's w-curve to determine his PIBP for the information

c. $285

d. Need Sam's w-curve and the probability he assigns to the "unfair" coin landing Heads (or Tails) to determine his PIBP for the information

For Problems 6, 7, and 8, consider the decision situation given in the following decision tree where the dollar values are winnings and the probabilities are the assessments of the deal's owner. Suppose Stuart, who is risk-neutral, owned the deal below.

Answers

Alpha Geek
(8)
Status NEW Posted 28 Apr 2017 11:04 AM My Price 3.00

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Attachments

file 1493380346-Answer.docx preview (210 words )
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