Gambling Essay Examples

gambling, expected return is: 500-P Gambling: unlucky gamble=500-250-20-P=230-P, lucky gamble:500-250+1000-P-(1000+500-250-300-P)*0.4=870-1.4P Expected return is: (230-P)*0.995+(870-1.4P)*0.005=233.2+1.002PThe equity holders will probably not choose to...